Twenty-five classes of pass-through certificates from 13 J.P. Morgan Mortgage Trust securitizations have been downgraded by Fitch Ratings. Fitch also placed two classes on Rating Watch Negative and affirmed the ratings on 48 J.P. Morgan classes. The negative rating actions were attributed to deterioration in the relationship between credit enhancement and loss expectations. The collateral for the transactions consist primarily of conventional first-lien prime mortgages.

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