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31.05.2016 19:08:00
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Moody's upgrades $91.5 million of securities issued by Mid-State transactions from 1997 and 2006
New York, May 31, 2016 -- Moody's Investors Service has upgraded the ratings of five tranches issued from two transactions. The collateral backing these transactions consists primarily of stick-built single family homes. Unlike traditional manufactured housing collateral, Mid-State pools are backed by land/home manufactured housing collateral. These properties are typically 90% completed by Jim Walter Homes, with the borrower having to contribute the remaining 10% to complete the construction of the property.
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