Moody's Takes Rating Action on Certain GSR Mortgage Loan Trust Jumbo transactions issued in 2006 and 2007
New York, October 06, 2008 -- Moody's Investors Service has placed on review for possible downgrade
140 tranches from 5 Jumbo transactions issued by GSR Mortgage Loan Trust
in 2006 and 2007.
The collateral backing these transactions consists primarily of first-lien,
fixed and adjustable-rate, prime mortgage loans. These
reviews are triggered by higher than anticipated rates of delinquency,
foreclosure, and REO in the underlying collateral relative to currently
available credit enhancement levels. The actions described below
are a result of Moody's revised expected losses on the Jumbo sector announced
on September 18th, 2008, and are part of an on-going
review process.
Moody's final rating actions in coming months will vary based on
current ratings, level of credit enhancement, pool-specific
historical performance, quarter of origination, collateral
characteristics and other qualitative factors. For deals where
the weakest senior Aaa tranche was identified as needing to go under review,
Moody's has placed on review for possible downgrade all senior Aaa
tranches. Moody's analysis during the review period will
take into account credit enhancement provided by seniority, time
tranching, and other structural features within the Aaa waterfalls.
Complete rating actions are as follows:
Issuer: GSR Mortgage Loan Trust 2006-8F
Cl. A-X, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 1A-1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2A-1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 3A-1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 3A-2, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 3A-3, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 3A-4, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 3A-5, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 3A-6, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 3A-7, Placed on Review for Possible Downgrade,
currently Aa1
Cl. 3A-8, Placed on Review for Possible Downgrade,
currently Aa1
Cl. 3A-9, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 3A-10, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 3A-11, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 4A-1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 4A-2, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 4A-3, Placed on Review for Possible Downgrade,
currently Aa1
Cl. 4A-4, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 4A-5, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 4A-6, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 4A-7, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 4A-8, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 4A-9, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 4A-10, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 4A-11, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 4A-12, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 4A-13, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 4A-14, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 4A-15, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 4A-16, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 4A-17, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 4A-18, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 4A-19, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 4A-20, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 4A-21, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 5A-1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 5A-2, Placed on Review for Possible Downgrade,
currently Aaa
Issuer: GSR Mortgage Loan Trust 2006-9F
Cl. A-X, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 1A-1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2A-1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 3A-1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 4A-1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 4A-2, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 4A-3, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 4A-4, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 4A-5, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 5A-1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 5A-2, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 5A-3, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 5A-4, Placed on Review for Possible Downgrade,
currently Aa1
Cl. 6A-1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 6A-2, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 7A-1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 8A-1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 9A-1, Placed on Review for Possible Downgrade,
currently Aaa
Issuer: GSR Mortgage Loan Trust 2007-1F
Cl. A-X, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 1A-1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2A-1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2A-2, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2A-3, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2A-4, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2A-5, Placed on Review for Possible Downgrade,
currently Aa1
Cl. 2A-6, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2A-7, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2A-8, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2A-9, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2A-10, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 3A-1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 3A-2, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 3A-3, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 3A-4, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 3A-5, Placed on Review for Possible Downgrade,
currently Aa1
Cl. 3A-6, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 3A-7, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 3A-8, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 3A-9, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 3A-10, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 3A-11, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 3A-12, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 3A-13, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 3A-14, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 3A-15, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 3A-16, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 4A-1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 4A-2, Placed on Review for Possible Downgrade,
currently Aaa
Issuer: GSR Mortgage Loan Trust 2007-2F
Cl. A-X, Placed on Review for Possible Downgrade,
currently Aaa
Cl. A-P, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 1A-1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 1A-2, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 1A-3, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 1A-4, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 1A-5, Placed on Review for Possible Downgrade,
currently Aa1
Cl. 2A-1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2A-2, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2A-3, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2A-4, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2A-5, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2A-6, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2A-7, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2A-8, Placed on Review for Possible Downgrade,
currently Aa1
Cl. 2A-9, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2A-10, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 3A-1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 3A-2, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 3A-3, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 3A-4, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 3A-5, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 3A-6, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 3A-7, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 3A-8, Placed on Review for Possible Downgrade,
currently Aa1
Cl. 3A-9, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 3A-10, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 4A-1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 4A-2, Placed on Review for Possible Downgrade,
currently Aaa
Issuer: GSR Mortgage Loan Trust 2007-3F
Cl. A-X, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 1A-1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 1A-2, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 1A-3, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 1A-4, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 1A-5, Placed on Review for Possible Downgrade,
currently Aa1
Cl. 2A-1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2A-2, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2A-3, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2A-4, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2A-5, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2A-6, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2A-7, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2A-8, Placed on Review for Possible Downgrade,
currently Aa1
Cl. 2A-9, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 2A-10, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 3A-1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 3A-2, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 3A-3, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 3A-4, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 3A-5, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 3A-6, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 3A-7, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 3A-8, Placed on Review for Possible Downgrade,
currently Aa1
Cl. 4A-1, Placed on Review for Possible Downgrade,
currently Aaa
Cl. 4A-2, Placed on Review for Possible Downgrade,
currently Aaa
For more information please see www.moodys.com.
New York
Navneet Agarwal
VP - Senior Credit Officer
Structured Finance Group
Moody's Investors Service
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653
New York
Gregory Bessermann
Associate Analyst
Structured Finance Group
Moody's Investors Service
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653