Class B4 of Financial Asset Securitization Inc.'s mortgage pass-through certificates, series 1997-NAMC2, has been downgraded from CCC to CC by Fitch Ratings.In addition, Fitch affirmed the ratings on four other classes in the transaction. The rating agency attributed the downgrade to principal writedowns and the fact that more than 9% of the pool is over 90 days delinquent. Fitch can be found on the Web at http://www.fitchratings.com.
FASI MBS Class Downgraded
April 08, 2005, 2:00 p.m. EDT 1 Min Read
