Fitch Eyes RMF CMBS Classes

Classes E and F of RMF commercial mortgage pass-through certificates, series 1995-1, have been placed on Rating Watch Negative by Fitch Ratings.The rating action was attributed to interest shortfalls to classes E and F stemming from a decline in the collateral performance of the pool, as well as concerns about possible future shortfalls to those classes and to investment-grade-rated classes in the deal. "The master servicer, ORIX Capital Markets, is recouping approximately $769,000 in principal and interest advances and legal fees associated with the EHA portfolio," Fitch said. "At this time, ORIX is taking back these fees over time to limit the interest shortfalls to the non-investment-grade-rated classes.... However, ORIX will review the transaction on a monthly basis and will reserve the right to recoup any of these or other outstanding fees at once." Fitch can be found on the Web at http://www.fitchratings.com.