. Moody’s Investors Service late last month completed a review of certain Alt-A bonds, downgrading or placing under review a total of $11.7 billion.…While late payments and defaults on prime jumbo loans remain relatively low, the mortgages are “deteriorating at almost the same pace as other mortgage products: a down-turn in the housing market has revealed a higher correlation in mortgage credit performance than most anticipated,” UBS analysts led by Laurie Goodman in New York wrote yesterday. |