(Reuters) - Moody's raised its forecast for losses after forecasting losses of 5.5 to 6 percent in March, the rating company said in a statement released late on Friday.
"Given the increase in delinquencies and defaults, Moody's believes there will likely be an increase in the use of loan modifications, as an alternative to foreclosure sale," Moody's analyst Debash Chatterjee wrote in a statement.
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