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Rating Action:

Moody's Takes Action on Certain Banc of America Deals

07 Apr 2008
Moody's Takes Action on Certain Banc of America Deals

New York, April 07, 2008 -- Moody's Investors Service has downgraded the ratings of 66 tranches from 16 transactions issued by Banc of America. Twenty seven downgraded tranches remain on review for possible further downgrade. Additionally, 59 tranches were placed on review for possible downgrade. The collateral backing these transactions consists primarily of first-lien, fixed and adjustable-rate, Alt-A mortgage loans.

The ratings were downgraded or placed on review for possible downgrade, in general, based on higher than anticipated rates of delinquency, foreclosure, and REO in the underlying collateral relative to credit enhancement levels. The actions described below are a result of Moody's on-going review process.

Complete rating actions are as follows:

Issuer: Banc of America Alternative Loan Trust 2006-5

Cl. B-2, Downgraded to Baa1 from A3

Cl. B-3, Downgraded to Ba2 from Baa3

Issuer: Banc of America Alternative Loan Trust 2006-7

Cl. M-5, Downgraded to Ba2 from Baa3

Issuer: Banc of America Funding Corporation, Mortgage Pass-Through Certificates, Series 2005-F

Cl. 2-A-2, Placed on Review for Possible Downgrade, currently Aa1

Cl. 2-X, Placed on Review for Possible Downgrade, currently Aaa

Cl. 3-A-2, Placed on Review for Possible Downgrade, currently Aa1

Cl. 4-A-2, Placed on Review for Possible Downgrade, currently Aaa

Cl. 5-A-2, Placed on Review for Possible Downgrade, currently Aaa

Cl. 6-A-2, Placed on Review for Possible Downgrade, currently Aa1

Issuer: Banc of America Funding 2006-7 Trust, Mortgage Pass-Through Certificates, Series 2006-7

Cl. T2-A-1, Placed on Review for Possible Downgrade, currently Aaa

Cl. T2-A-2, Placed on Review for Possible Downgrade, currently Aaa

Cl. T2-A-3, Placed on Review for Possible Downgrade, currently Aaa

Cl. T2-A-4, Placed on Review for Possible Downgrade, currently Aaa

Cl. T2-A-5, Placed on Review for Possible Downgrade, currently Aaa

Cl. T2-A-6, Placed on Review for Possible Downgrade, currently Aaa

Cl. T2-A-7, Placed on Review for Possible Downgrade, currently Aaa

Cl. T2-A-8, Placed on Review for Possible Downgrade, currently Aaa

Cl. T2-A-A, Placed on Review for Possible Downgrade, currently Aa1

Cl. T2-A-B, Placed on Review for Possible Downgrade, currently Aaa

Cl. T2-M-1, Downgraded to B1 from Aa1

Cl. T2-M-2, Downgraded to B2 from Aa2; Placed Under Review for further Possible Downgrade

Cl. T2-M-3, Downgraded to B2 from Aa3; Placed Under Review for further Possible Downgrade

Cl. T2-M-4, Downgraded to B3 from A2; Placed Under Review for further Possible Downgrade

Cl. T2-M-5, Downgraded to B3 from Baa1; Placed Under Review for further Possible Downgrade

Cl. T2-M-6, Downgraded to B3 from Baa2; Placed Under Review for further Possible Downgrade

Cl. T2-M-7, Downgraded to Ca from Ba1

Cl. T2-M-8, Downgraded to Ca from Ba3

Cl. T2-B-1, Downgraded to Ca from B2

Issuer: Banc of America Funding 2006--8T2 Trust

Cl. A-1, Placed on Review for Possible Downgrade, currently Aaa

Cl. A-3, Placed on Review for Possible Downgrade, currently Aaa

Cl. A-2, Placed on Review for Possible Downgrade, currently Aaa

Cl. A-4, Placed on Review for Possible Downgrade, currently Aaa

Cl. A-5, Placed on Review for Possible Downgrade, currently Aa1

Cl. A-6, Placed on Review for Possible Downgrade, currently Aaa

Cl. A-7, Placed on Review for Possible Downgrade, currently Aa1

Cl. A-8, Placed on Review for Possible Downgrade, currently Aaa

Cl. A-9, Placed on Review for Possible Downgrade, currently Aaa

Cl. A-10, Placed on Review for Possible Downgrade, currently Aaa

Cl. A-11, Placed on Review for Possible Downgrade, currently Aa1

Cl. M-1, Downgraded to B2 from Aa2

Cl. M-2, Downgraded to B2 from A1; Placed Under Review for further Possible Downgrade

Cl. M-3, Downgraded to B2 from A2; Placed Under Review for further Possible Downgrade

Cl. M-4, Downgraded to B3 from A3; Placed Under Review for further Possible Downgrade

Cl. M-5, Downgraded to B3 from Baa2; Placed Under Review for further Possible Downgrade

Cl. M-6, Downgraded to Caa1 from Baa3; Placed Under Review for further Possible Downgrade

Issuer: Banc of America Funding 2006-G Trust

Cl. M-6, Downgraded to Ba1 from Baa3

Cl. M-7, Downgraded to Ca from B3

Issuer: Banc of America Funding 2006-H Trust

Cl. 5-A-1, Placed on Review for Possible Downgrade, currently Aaa

Cl. 5-A-2, Placed on Review for Possible Downgrade, currently Aaa

Cl. 6-A-1, Placed on Review for Possible Downgrade, currently Aaa

Cl. 6-A-2, Placed on Review for Possible Downgrade, currently Aaa

Cl. M-1, Downgraded to B2 from Aa1

Cl. M-2, Downgraded to B2 from Aa2; Placed Under Review for further Possible Downgrade

Cl. M-3, Downgraded to B3 from Aa3; Placed Under Review for further Possible Downgrade

Cl. M-4, Downgraded to B3 from A3; Placed Under Review for further Possible Downgrade

Cl. M-5, Downgraded to B3 from Baa3; Placed Under Review for further Possible Downgrade

Cl. M-6, Downgraded to Ca from Ba3

Cl. M-7, Downgraded to Ca from Caa1

Issuer: Banc of America Funding 2007-1 Trust, Mortgage Pass-Through Certificates, Series 2007-1

Cl. T-A-1A, Placed on Review for Possible Downgrade, currently Aaa

Cl. T-A-1B, Placed on Review for Possible Downgrade, currently Aaa

Cl. T-A-2, Placed on Review for Possible Downgrade, currently Aaa

Cl. T-M-1, Downgraded to B3 from Aa2; Placed Under Review for further Possible Downgrade

Cl. T-M-2, Downgraded to B3 from Baa3; Placed Under Review for further Possible Downgrade

Cl. T-M-3, Downgraded to Ca from Ba2

Cl. T-M-4, Downgraded to Ca from B1

Cl. T-M-5, Downgraded to Ca from B3

Issuer: Banc of America Funding 2007--2 Trust

Cl. T-A-1A, Placed on Review for Possible Downgrade, currently Aaa

Cl. T-A-1B, Placed on Review for Possible Downgrade, currently Aaa

Cl. T-A-2, Placed on Review for Possible Downgrade, currently Aaa

Cl. T-A-3, Placed on Review for Possible Downgrade, currently Aaa

Cl. T-A-4, Placed on Review for Possible Downgrade, currently Aaa

Cl. T-A-5, Placed on Review for Possible Downgrade, currently Aaa

Cl. T-A-6, Placed on Review for Possible Downgrade, currently Aaa

Cl. T-M-1, Downgraded to Ba3 from Aa2

Cl. T-M-2, Downgraded to B2 from A3; Placed Under Review for further Possible Downgrade

Cl. T-M-3, Downgraded to B2 from Baa2; Placed Under Review for further Possible Downgrade

Cl. T-M-4, Downgraded to B3 from Baa3; Placed Under Review for further Possible Downgrade

Cl. T-M-5, Downgraded to Ca from Ba1

Issuer: Banc of America Funding 2007-3 Trust

Cl. T-A-1A, Placed on Review for Possible Downgrade, currently Aaa

Cl. T-A-1B, Placed on Review for Possible Downgrade, currently Aaa

Cl. T-A-2, Placed on Review for Possible Downgrade, currently Aaa

Cl. T-A-3A, Placed on Review for Possible Downgrade, currently Aaa

Cl. T-A-3B, Placed on Review for Possible Downgrade, currently Aaa

Cl. T-A-4, Placed on Review for Possible Downgrade, currently Aaa

Cl. T-A-5, Placed on Review for Possible Downgrade, currently Aaa

Cl. T-A-6, Placed on Review for Possible Downgrade, currently Aaa

Cl. T-A-7, Placed on Review for Possible Downgrade, currently Aaa

Cl. T-A-8, Placed on Review for Possible Downgrade, currently Aaa

Cl. T-M-1A, Downgraded to B1 from Aa2

Cl. T-M-1B, Downgraded to B1 from Aa2

Cl. T-M-2, Downgraded to B2 from A3; Placed Under Review for further Possible Downgrade

Cl. T-M-3, Downgraded to B3 from Baa1; Placed Under Review for further Possible Downgrade

Cl. T-M-4, Downgraded to B3 from Baa3; Placed Under Review for further Possible Downgrade

Cl. T-M-5, Downgraded to Ca from Ba2

Issuer: Banc of America Funding 2007-4 Trust

Cl. T-A-1A, Placed on Review for Possible Downgrade, currently Aaa

Cl. T-A-1B, Placed on Review for Possible Downgrade, currently Aaa

Cl. T-A-2, Placed on Review for Possible Downgrade, currently Aaa

Cl. T-A-3, Placed on Review for Possible Downgrade, currently Aaa

Cl. T-A-4, Placed on Review for Possible Downgrade, currently Aaa

Cl. T-A-6, Placed on Review for Possible Downgrade, currently Aaa

Cl. T-A-7, Placed on Review for Possible Downgrade, currently Aaa

Cl. T-A-P2, Placed on Review for Possible Downgrade, currently Aaa

Cl. T-M-1, Downgraded to Baa1 from Aa2

Cl. T-M-2, Downgraded to B1 from Baa2; Placed Under Review for further Possible Downgrade

Cl. T-M-3, Downgraded to B1 from Baa3; Placed Under Review for further Possible Downgrade

Cl. T-M-4, Downgraded to Ca from Ba3

Cl. T-M-5, Downgraded to Ca from Caa1

Issuer: Banc of America Funding Corporation 2007-6

Cl. M-1, Downgraded to Aa3 from Aa2

Cl. M-2, Downgraded to Baa2 from A2

Cl. M-3, Downgraded to Ba1 from Baa1

Cl. M-4, Downgraded to Ba3 from Baa2

Cl. M-5, Downgraded to B1 from Baa3; Placed Under Review for further Possible Downgrade

Issuer: Banc of America Funding 2007-A Trust

Cl. M-2, Downgraded to Aa3 from Aa2

Cl. M-3, Downgraded to A1 from Aa3

Cl. M-4, Downgraded to Baa1 from A1

Cl. M-5, Downgraded to Ba1 from A2

Cl. M-6, Downgraded to B1 from Baa1; Placed Under Review for further Possible Downgrade

Cl. M-7, Downgraded to B2 from Baa3; Placed Under Review for further Possible Downgrade

Issuer: Banc of America Funding 2007-B Trust

Cl. M-7, Downgraded to Ba3 from Baa3

Issuer: Banc of America Funding 2007-C Trust

Cl. M-5, Downgraded to Baa1 from A2

Cl. M-7, Downgraded to Ba3 from Baa2

Cl. 5-B-2, Downgraded to Baa2 from A2

Cl. 5-B-3, Downgraded to Ba2 from Baa2

Cl. 5-B-4, Downgraded to B3 from Ba2

Issuer: Banc of America Funding 2007-D Trust

Cl. M-7, Downgraded to Ba3 from Baa2

A list of these actions including CUSIP identifiers may be found at:

PDF: http://www.moodys.com/cust/getdocumentByNotesDocId.asp?criteria=PBS_SF128703

Excel: http://www.moodys.com/cust/getdocumentByNotesDocId.asp?criteria=PBS_SF128704

For more information please see www.moodys.com.

New York
Amelia (Amy) Tobey
Vice President - Senior Analyst
Structured Finance Group
Moody's Investors Service
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653

New York
Ola Hannoun-Costa
Senior Associate
Structured Finance Group
Moody's Investors Service
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653

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