In Brief: Duff Downgrades 19 Mortgage-Backeds

Duff & Phelps Credit Rating Co. has downgraded 19 public classes of residential mortgage-backed securities backed by pools of subprime loans.

The rating actions were taken because of continued decreases in credit enhancement and high levels of delinquencies and foreclosures.

For certain liquidated mortgage loans, losses were higher than Duff & Phelps' expectations, creating additional credit concerns.

Sixteen of the securities were issued by DLJ Mortgage Acceptance Corp. and backed by loans originated by Quality Mortgage USA Inc.

One security each was issued by GCA Mortgage Funding Corp. and MDC Mortgage Funding Corp., both of which were originated by Long Beach Bank.

And one security was issued by Fund America Investment Corp. and originated by B First Mortgage Co.

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