07.10.2016 17:09:00

Moody's takes action on $280.9 Million of Alt-A RMBS issued by Countrywide

New York, October 07, 2016 -- Moody's Investors Service has upgraded the ratings of 21 tranches and confirmed the ratings of 19 tranches from 6 transactions backed by Alt-A RMBS loans issued by Countrywide Mortgage (CW). The tranches that were placed on review for upgrade on July 22nd, 2016, are due to the distribution of funds related to the $8.5 billion settlement related to CW's pre-crisis servicing practices and alleged breaches of representations and warranties, between Bank of America, N.A., parent of CW, and Bank of New York Mellon as trustee.

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