Fitch Downgrades More B&C Classes

Forty-eight additional classes of subprime mortgage pass-through certificates were downgraded by Fitch Ratings on April 21 as a result of changes to its subprime loss forecasting assumptions. Fitch also placed one class on Rating Watch Negative and affirmed the ratings on classes with outstanding balances of $1.5 billion. The pass-through securities affected by the latest downgrades were: 45 classes from eight issues by Residential Asset Mortgage Products; and three classes from one issue by Own It Mortgage Loan Trust. The rating actions were attributed to changes to Fitch's subprime loss forecasting assumptions that "better capture the deteriorating performance of pools from 2006 and late 2005 with regard to continued poor loan performance and home price weakness." Fitch can be found online at http://www.fitchratings.com.