Class B of Asset Backed Funding Corp. mortgage loan asset-backed certificates, series 2001-AQ1, has been downgraded from BBB to BB by Fitch Ratings.Fitch attributed the downgrade to monthly losses that have an averaged over $157,000, about $23,000 more than the average monthly excess interest. In addition, 90-day delinquencies have averaged 24.3% of the current pool balances, the rating agency said.

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