New York, April 21, 2010 -- Moody's Investors Service has downgraded the ratings of 202 tranches and
confirmed the ratings of 14 tranches from ten RMBS transactions,
backed by prime jumbo loans, issued by Banc of America.
The collateral backing these transactions consists primarily of first-lien,
fixed and adjustable-rate, prime jumbo residential mortgage
loans. The actions are a result of the rapidly deteriorating performance
of jumbo pools in conjunction with macroeconomic conditions that remain
under duress. The actions reflect Moody's updated loss expectations
on prime jumbo pools issued from 2005 to 2008. For details regarding
Moody's approach to estimating losses on prime jumbo pools originated
in 2005, 2006, 2007 and 2008, please refer to the methodology
publication "Prime Jumbo RMBS Loss Projection Update: January 2010"
available on Moodys.com.
To assess the rating implications of the updated loss levels on prime
jumbo RMBS, each individual pool was run through a variety of scenarios
in the Structured Finance Workstation® (SFW), the cash flow
model developed by Moody's Wall Street Analytics. This individual
pool level analysis incorporates performance variances across the different
pools and the structural features of the transaction including priorities
of payment distribution among the different tranches, average life
of the tranches, current balances of the tranches and future cash
flows under expected and stressed scenarios. The scenarios include
ninety-six different combinations comprising of six loss levels,
four loss timing curves and four prepayment curves. The volatility
in losses experienced by a tranche due to small increments in losses on
the underlying mortgage pool is taken into consideration when assigning
ratings.
Tranche A-1 issued by Banc of America Mortgage Securities,
Inc., Mortgage Pass-Through Certificates, Series
2005-12 is wrapped by Assured Guaranty Corp (rated Aa3).
For securities insured by a financial guarantor, the rating on the
securities is the higher of (i) the guarantor's financial strength rating
and (ii) the current underlying rating (i.e., absent
consideration of the guaranty) on the security. The principal methodology
used in determining the underlying rating is the same methodology for
rating securities that do not have a financial guaranty and is as described
earlier.
The above mentioned approach "Jumbo RMBS Loss Projection Update:
January 2010" is adjusted to estimate losses on pools left with a small
number of loans. To project losses on pools with fewer than 100
loans, Moody's first estimates a "baseline" average
rate of new delinquencies for the pool that is dependent on the vintage
of loan origination (3.5%, 6.5% and
7.5% for the 2005, 2006 and 2007 vintage respectively).
This baseline rate is higher than the average rate of new delinquencies
for the vintage to account for the volatile nature of small pools.
Even if a few loans in a small pool become delinquent, there could
be a large increase in the overall pool delinquency level due to the concentration
risk.
Once the baseline rate is set, further adjustments are made based
on 1) the number of loans remaining in the pool and 2) the level of current
delinquencies in the pool. The fewer the number of loans remaining
in the pool, the higher the volatility and hence the stress applied.
Once the loan count in a pool falls below 75, the rate of delinquency
is increased by 1% for every loan less than 75. For example,
for a pool with 74 loans from the 2005 vintage, the adjusted rate
of new delinquency would be 3.535%. If the current
delinquency level in a small pool is low, future delinquencies are
expected to reflect this trend. To account for that, the
rate calculated above is multiplied by a factor ranging from 0.2
to 1.8 for current delinquencies ranging from less than 2.5%
to greater than 30% respectively. Delinquencies for subsequent
years and ultimate expected losses are projected using the approach described
in the methodology publication.
Other methodologies and factors that may have been considered in the process
of rating this issue can also be found at www.moodys.com
in the Rating Methodologies sub-directory on Moody's website.
In addition, Moody's publishes a weekly summary of structured finance
credit, ratings and methodologies, available to all registered
users of our website, at www.moodys.com/SFQuickCheck
A list of updated estimated pool losses and tranche recovery details is
being posted on an ongoing basis for the duration of this review period
and may be found at:
http://v3.moodys.com/page/viewresearchdoc.aspx?docid=PBS_SF196023
List of actions:
Issuer: Banc of America Funding 2006-4 Trust
Cl. A-1, Confirmed at B3; previously on Dec 17,
2009 B3 Placed Under Review for Possible Downgrade
Cl. A-2, Confirmed at B3; previously on Dec 17,
2009 B3 Placed Under Review for Possible Downgrade
Cl. A-3, Confirmed at B3; previously on Dec 17,
2009 B3 Placed Under Review for Possible Downgrade
Cl. A-4, Confirmed at B3; previously on Dec 17,
2009 B3 Placed Under Review for Possible Downgrade
Cl. A-5, Downgraded to Caa2; previously on Dec
17, 2009 Baa3 Placed Under Review for Possible Downgrade
Cl. A-6, Downgraded to C; previously on Dec 17,
2009 Caa2 Placed Under Review for Possible Downgrade
Cl. A-7, Downgraded to Caa2; previously on Dec
17, 2009 B3 Placed Under Review for Possible Downgrade
Cl. A-8, Downgraded to Caa1; previously on Dec
17, 2009 Ba3 Placed Under Review for Possible Downgrade
Cl. A-9, Downgraded to C; previously on May 13,
2009 Downgraded to Ca
Cl. A-10, Downgraded to Caa2; previously on Dec
17, 2009 Caa1 Placed Under Review for Possible Downgrade
Cl. A-11, Downgraded to Caa1; previously on Dec
17, 2009 Ba3 Placed Under Review for Possible Downgrade
Cl. A-12, Downgraded to Caa2; previously on Dec
17, 2009 B1 Placed Under Review for Possible Downgrade
Cl. A-13, Downgraded to Caa2; previously on Dec
17, 2009 Caa1 Placed Under Review for Possible Downgrade
Cl. A-14, Downgraded to Caa2; previously on Dec
17, 2009 Caa1 Placed Under Review for Possible Downgrade
Cl. A-15, Downgraded to Caa2; previously on Dec
17, 2009 Caa1 Placed Under Review for Possible Downgrade
Cl. A-16, Downgraded to Caa2; previously on Dec
17, 2009 Caa1 Placed Under Review for Possible Downgrade
Cl. A-17, Downgraded to Caa2; previously on Dec
17, 2009 Caa1 Placed Under Review for Possible Downgrade
Cl. A-18, Downgraded to Caa2; previously on Dec
17, 2009 Caa1 Placed Under Review for Possible Downgrade
Cl. A-19, Downgraded to Caa2; previously on Dec
17, 2009 Caa1 Placed Under Review for Possible Downgrade
Cl. A-20, Downgraded to Caa2; previously on Dec
17, 2009 Caa1 Placed Under Review for Possible Downgrade
Cl. A-21, Downgraded to Caa2; previously on Dec
17, 2009 Caa1 Placed Under Review for Possible Downgrade
Cl. A-22, Downgraded to Caa2; previously on Dec
17, 2009 Caa1 Placed Under Review for Possible Downgrade
Cl. A-23, Downgraded to Caa2; previously on Dec
17, 2009 Caa1 Placed Under Review for Possible Downgrade
Cl. A-24, Downgraded to Caa2; previously on Dec
17, 2009 Caa1 Placed Under Review for Possible Downgrade
Cl. A-25, Downgraded to Caa2; previously on Dec
17, 2009 Caa1 Placed Under Review for Possible Downgrade
Cl. A-26, Downgraded to Caa2; previously on Dec
17, 2009 Caa1 Placed Under Review for Possible Downgrade
Cl. A-27, Downgraded to Caa2; previously on Dec
17, 2009 Caa1 Placed Under Review for Possible Downgrade
Cl. A-28, Downgraded to Caa2; previously on Dec
17, 2009 Caa1 Placed Under Review for Possible Downgrade
Cl. A-29, Downgraded to Caa2; previously on Dec
17, 2009 Caa1 Placed Under Review for Possible Downgrade
Cl. A-30, Downgraded to Caa2; previously on Dec
17, 2009 Caa1 Placed Under Review for Possible Downgrade
Cl. A-31, Downgraded to Caa2; previously on Dec
17, 2009 Caa1 Placed Under Review for Possible Downgrade
Cl. 30-IO, Downgraded to Caa2; previously on
Dec 17, 2009 Baa3 Placed Under Review for Possible Downgrade
Cl. 30-PO, Downgraded to Caa2; previously on
Dec 17, 2009 Caa1 Placed Under Review for Possible Downgrade
Issuer: Banc of America Mortgage 2005-1 Trust
Cl. 1-A-1, Downgraded to Ba1; previously
on Dec 17, 2009 A2 Placed Under Review for Possible Downgrade
Cl. 1-A-2, Downgraded to Ba3; previously
on Dec 17, 2009 A2 Placed Under Review for Possible Downgrade
Cl. 1-A-3, Downgraded to Ba3; previously
on Dec 17, 2009 A2 Placed Under Review for Possible Downgrade
Cl. 1-A-4, Downgraded to Ba3; previously
on Dec 17, 2009 A2 Placed Under Review for Possible Downgrade
Cl. 1-A-5, Downgraded to Ba3; previously
on Dec 17, 2009 A2 Placed Under Review for Possible Downgrade
Cl. 1-A-6, Downgraded to Ba3; previously
on Dec 17, 2009 A2 Placed Under Review for Possible Downgrade
Cl. 1-A-7, Downgraded to Ba1; previously
on Dec 17, 2009 A2 Placed Under Review for Possible Downgrade
Cl. 1-A-8, Downgraded to Ba1; previously
on Dec 17, 2009 A2 Placed Under Review for Possible Downgrade
Cl. 1-A-9, Downgraded to Ba1; previously
on Dec 17, 2009 A2 Placed Under Review for Possible Downgrade
Cl. 1-A-10, Downgraded to Ba1; previously
on Dec 17, 2009 A2 Placed Under Review for Possible Downgrade
Cl. 1-A-11, Downgraded to Ba1; previously
on Dec 17, 2009 A2 Placed Under Review for Possible Downgrade
Cl. 1-A-13, Confirmed at A1; previously
on Dec 17, 2009 A1 Placed Under Review for Possible Downgrade
Cl. 1-A-14, Downgraded to Baa3; previously
on Dec 17, 2009 A2 Placed Under Review for Possible Downgrade
Cl. 1-A-15, Downgraded to Ba1; previously
on Dec 17, 2009 Aa3 Placed Under Review for Possible Downgrade
Cl. 1-A-16, Downgraded to Ba1; previously
on Dec 17, 2009 Aa3 Placed Under Review for Possible Downgrade
Cl. 1-A-17, Downgraded to Caa1; previously
on Dec 17, 2009 A3 Placed Under Review for Possible Downgrade
Cl. 1-A-18, Downgraded to Ba3; previously
on Dec 17, 2009 A2 Placed Under Review for Possible Downgrade
Cl. 1-A-19, Confirmed at A1; previously
on Dec 17, 2009 A1 Placed Under Review for Possible Downgrade
Cl. 1-A-20, Downgraded to Ba1; previously
on Dec 17, 2009 A1 Placed Under Review for Possible Downgrade
Cl. 1-A-21, Downgraded to Ba3; previously
on Dec 17, 2009 A2 Placed Under Review for Possible Downgrade
Cl. 1-A-22, Downgraded to Ba1; previously
on Dec 17, 2009 A1 Placed Under Review for Possible Downgrade
Cl. 1-A-23, Downgraded to Ba3; previously
on Dec 17, 2009 A2 Placed Under Review for Possible Downgrade
Cl. 1-A-24, Downgraded to Ba3; previously
on Dec 17, 2009 A2 Placed Under Review for Possible Downgrade
Cl. 2-A-1, Confirmed at Ba3; previously
on Dec 17, 2009 Ba3 Placed Under Review for Possible Downgrade
Cl. 15-IO, Confirmed at Ba3; previously on Dec
17, 2009 Ba3 Placed Under Review for Possible Downgrade
Cl. 15-PO, Confirmed at Ba3; previously on Dec
17, 2009 Ba3 Placed Under Review for Possible Downgrade
Cl. 30-IO, Downgraded to A1; previously on Dec
17, 2009 Aa3 Placed Under Review for Possible Downgrade
Cl. 30-PO, Downgraded to Ba2; previously on Dec
17, 2009 A2 Placed Under Review for Possible Downgrade
Cl. 15-B-1, Downgraded to C; previously
on Dec 17, 2009 Caa2 Placed Under Review for Possible Downgrade
Cl. 15-B-2, Downgraded to C; previously
on Jun 2, 2009 Downgraded to Ca
Issuer: Banc of America Mortgage 2005-3 Trust
Cl. 1-A-1, Downgraded to Ba2; previously
on Dec 17, 2009 Baa1 Placed Under Review for Possible Downgrade
Cl. 1-A-2, Downgraded to Ba3; previously
on Dec 17, 2009 Baa1 Placed Under Review for Possible Downgrade
Cl. 1-A-3, Downgraded to Ba3; previously
on Dec 17, 2009 Baa1 Placed Under Review for Possible Downgrade
Cl. 1-A-4, Downgraded to Ba3; previously
on Dec 17, 2009 Baa1 Placed Under Review for Possible Downgrade
Cl. 1-A-5, Downgraded to Ba3; previously
on Dec 17, 2009 Baa1 Placed Under Review for Possible Downgrade
Cl. 1-A-6, Downgraded to Ba2; previously
on Dec 17, 2009 Baa1 Placed Under Review for Possible Downgrade
Cl. 1-A-8, Downgraded to Ba2; previously
on Dec 17, 2009 Baa1 Placed Under Review for Possible Downgrade
Cl. 1-A-9, Downgraded to Ba2; previously
on Dec 17, 2009 Baa1 Placed Under Review for Possible Downgrade
Cl. 1-A-10, Downgraded to Ba2; previously
on Dec 17, 2009 Baa1 Placed Under Review for Possible Downgrade
Cl. 1-A-11, Downgraded to Ba3; previously
on Dec 17, 2009 Baa1 Placed Under Review for Possible Downgrade
Cl. 1-A-12, Downgraded to Ba2; previously
on Dec 17, 2009 Baa1 Placed Under Review for Possible Downgrade
Cl. 1-A-13, Downgraded to Ba2; previously
on Dec 17, 2009 Baa1 Placed Under Review for Possible Downgrade
Cl. 1-A-15, Downgraded to Ba3; previously
on Dec 17, 2009 Baa1 Placed Under Review for Possible Downgrade
Cl. 1-A-16, Downgraded to Ba2; previously
on Dec 17, 2009 Baa1 Placed Under Review for Possible Downgrade
Cl. 1-A-17, Downgraded to Ba2; previously
on Dec 17, 2009 Baa1 Placed Under Review for Possible Downgrade
Cl. 1-A-20, Downgraded to Baa2; previously
on Dec 17, 2009 A1 Placed Under Review for Possible Downgrade
Cl. 1-A-21, Downgraded to Baa3; previously
on Dec 17, 2009 Aa2 Placed Under Review for Possible Downgrade
Cl. 1-A-22, Downgraded to Caa1; previously
on Dec 17, 2009 Baa1 Placed Under Review for Possible Downgrade
Cl. 1-A-23, Downgraded to B1; previously
on Dec 17, 2009 Baa1 Placed Under Review for Possible Downgrade
Cl. 1-A-24, Downgraded to Baa3; previously
on Dec 17, 2009 Aa3 Placed Under Review for Possible Downgrade
Cl. 1-A-25, Confirmed at A1; previously
on Dec 17, 2009 A1 Placed Under Review for Possible Downgrade
Cl. 1-A-26, Downgraded to Baa3; previously
on Dec 17, 2009 A3 Placed Under Review for Possible Downgrade
Cl. 1-A-27, Downgraded to Ba2; previously
on Dec 17, 2009 Baa1 Placed Under Review for Possible Downgrade
Cl. 1-A-28, Downgraded to B1; previously
on Dec 17, 2009 Baa1 Placed Under Review for Possible Downgrade
Cl. 1-A-29, Downgraded to Ba3; previously
on Dec 17, 2009 Baa1 Placed Under Review for Possible Downgrade
Cl. 1-A-30, Downgraded to Caa1; previously
on Dec 17, 2009 Baa2 Placed Under Review for Possible Downgrade
Cl. 1-A-31, Confirmed at A1; previously
on Dec 17, 2009 A1 Placed Under Review for Possible Downgrade
Cl. 1-A-32, Confirmed at Baa1; previously
on Dec 17, 2009 Baa1 Placed Under Review for Possible Downgrade
Cl. 1-A-IO, Downgraded to A1; previously
on Dec 17, 2009 Aaa Placed Under Review for Possible Downgrade
Cl. 30-PO, Downgraded to Ba3; previously on Dec
17, 2009 Baa1 Placed Under Review for Possible Downgrade
Cl. 2-A-1, Downgraded to B2; previously
on Dec 17, 2009 Aa2 Placed Under Review for Possible Downgrade
Cl. 2-A-2, Downgraded to B1; previously
on Dec 17, 2009 A1 Placed Under Review for Possible Downgrade
Cl. 2-A-3, Downgraded to B3; previously
on Dec 17, 2009 A2 Placed Under Review for Possible Downgrade
Cl. 2-A-4, Downgraded to Ca; previously
on Dec 17, 2009 A3 Placed Under Review for Possible Downgrade
Cl. 2-A-IO, Downgraded to B1; previously
on Dec 17, 2009 Aa2 Placed Under Review for Possible Downgrade
Issuer: Banc of America Mortgage 2006-1 Trust
Cl. A-1, Downgraded to Caa1; previously on Dec
17, 2009 B2 Placed Under Review for Possible Downgrade
Cl. A-2, Downgraded to C; previously on Dec 17,
2009 Caa1 Placed Under Review for Possible Downgrade
Cl. A-3, Downgraded to Caa2; previously on Dec
17, 2009 B1 Placed Under Review for Possible Downgrade
Cl. A-4, Downgraded to C; previously on Dec 17,
2009 Caa3 Placed Under Review for Possible Downgrade
Cl. A-5, Downgraded to Caa1; previously on Dec
17, 2009 B3 Placed Under Review for Possible Downgrade
Cl. A-6, Downgraded to Caa1; previously on Dec
17, 2009 Baa2 Placed Under Review for Possible Downgrade
Cl. A-7, Downgraded to Caa1; previously on Dec
17, 2009 B2 Placed Under Review for Possible Downgrade
Cl. A-9, Downgraded to Caa1; previously on Dec
17, 2009 B3 Placed Under Review for Possible Downgrade
Cl. A-10, Downgraded to Caa2; previously on Dec
17, 2009 B3 Placed Under Review for Possible Downgrade
Cl. 30-IO, Downgraded to Caa1; previously on
Dec 17, 2009 Baa2 Placed Under Review for Possible Downgrade
Cl. 30-PO, Downgraded to Caa2; previously on
Dec 17, 2009 B3 Placed Under Review for Possible Downgrade
Issuer: Banc of America Mortgage 2006-2 Trust
Cl. A-1, Downgraded to Caa2; previously on Dec
17, 2009 B1 Placed Under Review for Possible Downgrade
Cl. A-2, Downgraded to Caa2; previously on Dec
17, 2009 B1 Placed Under Review for Possible Downgrade
Cl. A-3, Downgraded to Caa1; previously on Dec
17, 2009 B1 Placed Under Review for Possible Downgrade
Cl. A-4, Downgraded to Caa1; previously on Dec
17, 2009 B1 Placed Under Review for Possible Downgrade
Cl. A-5, Downgraded to B2; previously on Dec
17, 2009 Baa2 Placed Under Review for Possible Downgrade
Cl. A-6, Downgraded to Caa2; previously on Dec
17, 2009 Ba3 Placed Under Review for Possible Downgrade
Cl. A-7, Downgraded to Caa2; previously on Dec
17, 2009 Ba3 Placed Under Review for Possible Downgrade
Cl. A-8, Downgraded to Caa2; previously on Dec
17, 2009 Ba3 Placed Under Review for Possible Downgrade
Cl. A-9, Downgraded to Caa2; previously on Dec
17, 2009 Ba3 Placed Under Review for Possible Downgrade
Cl. A-10, Downgraded to Caa2; previously on Dec
17, 2009 B1 Placed Under Review for Possible Downgrade
Cl. A-11, Downgraded to Caa2; previously on Dec
17, 2009 B1 Placed Under Review for Possible Downgrade
Cl. A-12, Downgraded to Caa2; previously on Dec
17, 2009 B2 Placed Under Review for Possible Downgrade
Cl. A-13, Downgraded to Caa1; previously on Dec
17, 2009 Ba1 Placed Under Review for Possible Downgrade
Cl. A-14, Downgraded to Caa2; previously on Dec
17, 2009 Ba3 Placed Under Review for Possible Downgrade
Cl. A-15, Downgraded to B2; previously on Dec
17, 2009 Baa3 Placed Under Review for Possible Downgrade
Cl. A-16, Downgraded to Caa2; previously on Dec
17, 2009 Ba2 Placed Under Review for Possible Downgrade
Cl. A-17, Downgraded to Caa2; previously on Dec
17, 2009 Ba3 Placed Under Review for Possible Downgrade
Cl. A-18, Downgraded to Caa2; previously on Dec
17, 2009 Ba3 Placed Under Review for Possible Downgrade
Cl. A-19, Downgraded to Caa2; previously on Dec
17, 2009 B1 Placed Under Review for Possible Downgrade
Cl. A-20, Downgraded to Caa2; previously on Dec
17, 2009 Ba3 Placed Under Review for Possible Downgrade
Cl. A-21, Downgraded to Caa2; previously on Dec
17, 2009 Ba3 Placed Under Review for Possible Downgrade
Cl. A-22, Downgraded to Caa2; previously on Dec
17, 2009 Ba3 Placed Under Review for Possible Downgrade
Cl. A-23, Downgraded to Caa2; previously on Dec
17, 2009 Ba3 Placed Under Review for Possible Downgrade
Cl. A-24, Downgraded to Caa2; previously on Dec
17, 2009 B1 Placed Under Review for Possible Downgrade
Cl. A-25, Downgraded to Caa2; previously on Dec
17, 2009 Ba3 Placed Under Review for Possible Downgrade
Cl. A-26, Downgraded to Caa2; previously on Dec
17, 2009 Ba3 Placed Under Review for Possible Downgrade
Cl. A-27, Downgraded to Caa2; previously on Dec
17, 2009 Ba3 Placed Under Review for Possible Downgrade
Cl. A-28, Downgraded to Caa2; previously on Dec
17, 2009 Ba3 Placed Under Review for Possible Downgrade
Cl. A-29, Downgraded to Caa2; previously on Dec
17, 2009 Ba3 Placed Under Review for Possible Downgrade
Cl. A-30, Downgraded to Caa2; previously on Dec
17, 2009 Ba3 Placed Under Review for Possible Downgrade
Cl. A-31, Downgraded to Caa2; previously on Dec
17, 2009 Ba3 Placed Under Review for Possible Downgrade
Cl. A-32, Downgraded to Caa2; previously on Dec
17, 2009 B1 Placed Under Review for Possible Downgrade
Cl. A-33, Downgraded to Caa2; previously on Dec
17, 2009 B1 Placed Under Review for Possible Downgrade
Cl. A-34, Downgraded to Caa2; previously on Dec
17, 2009 Ba3 Placed Under Review for Possible Downgrade
Cl. A-35, Downgraded to Caa2; previously on Dec
17, 2009 Ba3 Placed Under Review for Possible Downgrade
Cl. 30-IO, Downgraded to B2; previously on Dec
17, 2009 Baa2 Placed Under Review for Possible Downgrade
Cl. 30-PO, Downgraded to Caa2; previously on
Dec 17, 2009 B1 Placed Under Review for Possible Downgrade
Cl. M, Downgraded to C; previously on May 13,
2009 Downgraded to Ca
Issuer: Banc of America Mortgage 2006-3 Trust
Cl. 1-A-1, Downgraded to Caa1; previously
on Dec 17, 2009 Ba3 Placed Under Review for Possible Downgrade
Cl. 1-A-2, Downgraded to Caa1; previously
on Dec 17, 2009 Ba3 Placed Under Review for Possible Downgrade
Cl. 1-A-3, Downgraded to Caa1; previously
on Dec 17, 2009 Ba3 Placed Under Review for Possible Downgrade
Cl. 1-A-4, Downgraded to Caa1; previously
on Dec 17, 2009 Ba3 Placed Under Review for Possible Downgrade
Cl. 1-A-5, Downgraded to Caa2; previously
on Dec 17, 2009 B1 Placed Under Review for Possible Downgrade
Cl. 1-A-6, Downgraded to Caa2; previously
on Dec 17, 2009 B1 Placed Under Review for Possible Downgrade
Cl. 1-A-7, Downgraded to Ba1; previously
on Dec 17, 2009 A3 Placed Under Review for Possible Downgrade
Cl. 1-A-8, Downgraded to Ba1; previously
on Dec 17, 2009 A3 Placed Under Review for Possible Downgrade
Cl. 1-A-9, Downgraded to Caa2; previously
on Dec 17, 2009 Ba3 Placed Under Review for Possible Downgrade
Cl. 1-A-10, Downgraded to Caa2; previously
on Dec 17, 2009 B1 Placed Under Review for Possible Downgrade
Cl. 1-A-11, Downgraded to Caa2; previously
on Dec 17, 2009 B1 Placed Under Review for Possible Downgrade
Cl. 1-A-12, Downgraded to Caa2; previously
on Dec 17, 2009 B1 Placed Under Review for Possible Downgrade
Cl. 1-A-13, Downgraded to Caa1; previously
on Dec 17, 2009 A2 Placed Under Review for Possible Downgrade
Cl. 1-A-14, Downgraded to C; previously
on Dec 17, 2009 B2 Placed Under Review for Possible Downgrade
Cl. 1-A-15, Downgraded to Caa1; previously
on Dec 17, 2009 A2 Placed Under Review for Possible Downgrade
Cl. 1-A-16, Downgraded to Caa2; previously
on Dec 17, 2009 Ba3 Placed Under Review for Possible Downgrade
Cl. 30-IO, Downgraded to Caa1; previously on
Dec 17, 2009 A2 Placed Under Review for Possible Downgrade
Cl. 30-PO, Downgraded to Caa2; previously on
Dec 17, 2009 B1 Placed Under Review for Possible Downgrade
Issuer: Banc of America Mortgage 2007-2 Trust
Cl. A-5, Downgraded to Caa1; previously on Dec
17, 2009 B2 Placed Under Review for Possible Downgrade
Cl. A-6, Downgraded to Caa2; previously on Dec
17, 2009 B3 Placed Under Review for Possible Downgrade
Cl. A-7, Downgraded to Caa2; previously on Dec
17, 2009 B2 Placed Under Review for Possible Downgrade
Cl. A-3, Confirmed at Caa3; previously on Dec
17, 2009 Caa3 Placed Under Review for Possible Downgrade
Cl. A-11, Confirmed at Caa3; previously on Dec
17, 2009 Caa3 Placed Under Review for Possible Downgrade
Issuer: Banc of America Mortgage Securities, Inc.,
Mortgage Pass-Through Certificates, Series 2005-12
Cl. A-2, Downgraded to B2; previously on Dec
17, 2009 Ba3 Placed Under Review for Possible Downgrade
Cl. A-3, Downgraded to B2; previously on Dec
17, 2009 Ba3 Placed Under Review for Possible Downgrade
Cl. A-4, Downgraded to B1; previously on Dec
17, 2009 Ba3 Placed Under Review for Possible Downgrade
Cl. A-5, Downgraded to Caa1; previously on Dec
17, 2009 Ba3 Placed Under Review for Possible Downgrade
Cl. A-6, Downgraded to Caa1; previously on Dec
17, 2009 Ba3 Placed Under Review for Possible Downgrade
Cl. A-7, Downgraded to Ba3; previously on Dec
17, 2009 A1 Placed Under Review for Possible Downgrade
Cl. A-8, Downgraded to Ca; previously on Dec
17, 2009 B1 Placed Under Review for Possible Downgrade
Cl. 30-IO, Downgraded to Ba3; previously on Dec
17, 2009 A1 Placed Under Review for Possible Downgrade
Cl. 30-PO, Downgraded to B3; previously on Dec
17, 2009 Ba3 Placed Under Review for Possible Downgrade
Cl. A-1, Current Rating at Aa3; previously on
Nov 12, 2009 Downgraded to Aa3
Underlying Rating: Downgraded to Caa1; previously on Jun 2,
2009 Assigned Ba3
Financial Guarantor: Assured Guaranty Corp (Confirmed at Aa3,
Outlook Negative on 12/18/2009)
Issuer: Banc of America Mortgage Securities, Inc.,
Mortgage Pass-Through Certificates, Series 2005-6
Cl. 1-A-1, Downgraded to Caa1; previously
on Dec 17, 2009 Aa1 Placed Under Review for Possible Downgrade
Cl. 1-A-2, Downgraded to Caa2; previously
on Dec 17, 2009 A3 Placed Under Review for Possible Downgrade
Cl. 1-A-3, Downgraded to Caa2; previously
on Dec 17, 2009 A3 Placed Under Review for Possible Downgrade
Cl. 1-A-4, Downgraded to Caa2; previously
on Dec 17, 2009 A3 Placed Under Review for Possible Downgrade
Cl. 1-A-5, Downgraded to B2; previously
on Dec 17, 2009 A1 Placed Under Review for Possible Downgrade
Cl. 1-A-6, Downgraded to Caa2; previously
on Dec 17, 2009 A3 Placed Under Review for Possible Downgrade
Cl. 1-A-7, Downgraded to Caa2; previously
on Dec 17, 2009 A3 Placed Under Review for Possible Downgrade
Cl. 1-A-8, Downgraded to Caa2; previously
on Dec 17, 2009 A3 Placed Under Review for Possible Downgrade
Cl. 1-A-9, Downgraded to Caa2; previously
on Dec 17, 2009 A3 Placed Under Review for Possible Downgrade
Cl. 1-A-10, Downgraded to Caa2; previously
on Dec 17, 2009 A3 Placed Under Review for Possible Downgrade
Cl. 1-A-11, Downgraded to Caa2; previously
on Dec 17, 2009 A3 Placed Under Review for Possible Downgrade
Cl. 1-A-12, Downgraded to B2; previously
on Dec 17, 2009 A1 Placed Under Review for Possible Downgrade
Cl. 1-A-13, Downgraded to Caa2; previously
on Dec 17, 2009 A3 Placed Under Review for Possible Downgrade
Cl. 1-A-14, Downgraded to Caa2; previously
on Dec 17, 2009 A3 Placed Under Review for Possible Downgrade
Cl. 1-A-15, Downgraded to C; previously
on Dec 17, 2009 Baa1 Placed Under Review for Possible Downgrade
Cl. 1-A-16, Downgraded to Caa2; previously
on Dec 17, 2009 A2 Placed Under Review for Possible Downgrade
Cl. 1-A-17, Downgraded to Caa1; previously
on Dec 17, 2009 A1 Placed Under Review for Possible Downgrade
Cl. 1-A-18, Downgraded to Caa2; previously
on Dec 17, 2009 A3 Placed Under Review for Possible Downgrade
Cl. 2-A-1, Downgraded to B2; previously
on Dec 17, 2009 Baa1 Placed Under Review for Possible Downgrade
Cl. A-PO, Downgraded to Caa2; previously on Dec
17, 2009 A3 Placed Under Review for Possible Downgrade
Cl. 30-IO, Downgraded to B2; previously on Dec
17, 2009 Aa1 Placed Under Review for Possible Downgrade
Cl. 15-IO, Downgraded to B2; previously on Dec
17, 2009 Baa1 Placed Under Review for Possible Downgrade
Issuer: Banc of America Mortgage Securities, Inc.,
Mortgage Pass-Through Certificates, Series 2005-8
Cl. A-1, Downgraded to Ba3; previously on Dec
17, 2009 A3 Placed Under Review for Possible Downgrade
Cl. A-2, Downgraded to B1; previously on Dec
17, 2009 Ba3 Placed Under Review for Possible Downgrade
Cl. A-3, Downgraded to Ba2; previously on Dec
17, 2009 Ba1 Placed Under Review for Possible Downgrade
Cl. A-4, Downgraded to B1; previously on Dec
17, 2009 Ba3 Placed Under Review for Possible Downgrade
Cl. A-5, Downgraded to B1; previously on Dec
17, 2009 Ba3 Placed Under Review for Possible Downgrade
Cl. A-6, Downgraded to B2; previously on Dec
17, 2009 Ba3 Placed Under Review for Possible Downgrade
Cl. A-8, Downgraded to B1; previously on Dec
17, 2009 Ba3 Placed Under Review for Possible Downgrade
Cl. A-9, Downgraded to B3; previously on Dec
17, 2009 Ba3 Placed Under Review for Possible Downgrade
Cl. A-10, Downgraded to B3; previously on Dec
17, 2009 Ba3 Placed Under Review for Possible Downgrade
Cl. A-11, Downgraded to B3; previously on Dec
17, 2009 Ba3 Placed Under Review for Possible Downgrade
Cl. A-12, Downgraded to B3; previously on Dec
17, 2009 Ba3 Placed Under Review for Possible Downgrade
Cl. A-13, Downgraded to B3; previously on Dec
17, 2009 Ba3 Placed Under Review for Possible Downgrade
Cl. A-14, Downgraded to Ca; previously on Dec
17, 2009 B2 Placed Under Review for Possible Downgrade
Cl. 30-IO, Downgraded to Ba2; previously on Dec
17, 2009 Aaa Placed Under Review for Possible Downgrade
Cl. 30-PO, Downgraded to B2; previously on Dec
17, 2009 Ba3 Placed Under Review for Possible Downgrade
A list of these actions including CUSIP identifiers may be found at:
Excel: http://v3.moodys.com/page/viewresearchdoc.aspx?docid=PBS_SF202306
For more information please see www.moodys.com.
New York
Debashish Chatterjee
Senior Vice President
Structured Finance Group
Moody's Investors Service
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653
New York
Aron Bergman
Analyst
Structured Finance Group
Moody's Investors Service
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653
Moody's takes action on $1.9 billion of Jumbo RMBS issued by Banc of America from 2005 to 2007
