NEW YORK Standard & Poors raised its ratings on 41 classes of GE Capital Mortgage Services Inc.s multiclass mortgage pass-through certificates and affirmed its ratings on all other GE Capital Mortgage certificates.
The upgraded certificates benefit from significantly improved credit risk profiles, Standard & Poors said in a press release. The certificates have three to six years of mortgage seasoning and low loss and delinquency levels that are below average for prime mortgage collateral, the ratings agency said.
The collateral backing GE Capital Mortgage certificates is made up mostly of prime fixed-rate and first-lien residential mortgage loans secured by single-family detached dwellings.
