Moody’s Investors Service has downgraded the servicer quality ratings of Bank of America and its BAC Home Loans Servicing unit largely because of deterioration of their collections and loss mitigation metrics. Moody’s added that their assessment for servicing stability was lowered from “strong” to “above average” as a result of the “challenges Bank of America continues to face with the integration of Countrywide Home Loans.”

Click here to read the release from Moody’s.