Class B of Fidelity Funding Mortgage Finance Corp. has been downgraded from BBB to BB by Fitch Ratings.The rating agency attributed the downgrade to a credit enhancement level of 6.7% that is below the required percentage of 8.4%. In addition, 25% of the pool is 60 or more days delinquent (including loans in bankruptcy or foreclosure or that are real estate owned), Fitch said.

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