Class B-3 of Nomura Asset Acceptance Corp. mortgage pass-through certificates, series 2001-R1, has been downgraded from BBB to BB by Fitch Ratings.Fitch also affirmed the ratings on five other classes in the deal. The downgrade was attributed to higher-than-expected collateral losses and deterioration in the relationship between loss expectations and credit support. As of October, the pool had incurred cumulative losses of 0.22% of the original collateral balance, and approximately 27% of the remaining pool balance was 90 or more days delinquent, the rating agency reported.

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