Ninety classes from 19 issues of Residential Accredited Loans Inc. mortgage-backed securities have been downgraded by Fitch Ratings. In addition, Fitch placed four classes on Rating Watch Negative, removed nine classes from Rating Watch Negative, and affirmed the ratings on 26 other classes in the transactions. The negative rating actions were attributed to deterioration in the relationship between credit enhancement and loss expectations. The collateral consists chiefly of first-lien, alternative-A mortgage loans.

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