Twenty-six classes from six Bombardier Capital Mortgage Inc. manufactured housing transactions have been downgraded by Fitch Ratings.In addition, the ratings on five classes were affirmed. Bombardier exited the manufactured housing retail lending industry in September 2001, but continues to service the loans from a center in Jacksonville, Fla., Fitch said. "A combination of underwriting and servicing problems have resulted in the highest cumulative losses of any MH issuer," the rating agency said. Fitch can be found online at http://www.fitchratings.com.
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