Two classes of Finance America Mortgage Loan Trust 2004-2 mortgage pass-through certificates have been downgraded by Fitch Ratings.Class M-8 has been downgraded from BBB-minus to BB, and class M-9 has been downgraded from BB-minus to B. Fitch also affirmed the ratings on seven other classes in the transaction. The rating agency attributed the downgrade to a deterioration in the relationship between credit enhancement and loss expectations. The collateral consists of fixed- and adjustable-rate residential mortgage loans secured by first and second liens.
Processing Content
