Delay in mortgage-rating cut is detrimental

06/29/2007 | Bloomberg

Leading rating services have failed to acknowledge risk in the mortgage-backed bond market by not cutting ratings on $200 billion of securities backed by home loans. A cut would add further chaos to the already shaken market, but delaying the cut will also be detrimental. "The longer they wait, the worse it's going to be," said Joshua Rosner of research firm Graham Fisher & Co.

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