"As the backlog of foreclosures continues to drive down housing prices, losses on private-label residential mortgage backed securities (RMBS) will increase in 2011, says Moody’s Investors Service in its 2011 outlook report. However, the rate at which loans in securitizations become delinquent should decline during the year. Moody’s also expects RMBS issuance to remain limited in 2011 as the market awaits proposed changes to the GSEs and implementation of new legislative and regulatory rules for securitizations."

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