None of the big three rating agencies have downgraded any securities issued by Bayview Financial, a privately held mortgage finance company based in Miami, in light of the realization that its securitizations were rated using what was at times erroneous loan information. A senior salesperson and limited partner in charge of Bayview's residential loan acquisition sales force was fired in late March under allegations of altering credit information on loans he acquired for the company in order to earn higher commissions, according to the company. The employee primarily increased borrower credit scores, but also changed property types and occupancy codes, among other items, the firm disclosed.

The mortgage company released the information July 21, in a filing with the Securities and Exchange Commission, and the rating agencies have since been sifting through securitizations issued by the company.

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