Eighteen classes from four Long Beach Mortgage Loan Trust transactions and one Long Beach Home Equity Loan Trust deal have been downgraded by Fitch Ratings and seven classes from four other deals have been placed on Rating Watch Negative.Fitch also affirmed the rating on 112 classes from 21 Long Beach transactions. The negative rating actions were attributed to a deterioration in the relationship between credit enhancement levels and loss expectations. All the mortgages in the various transactions -- consisting of fixed- and adjustable-rate subprime loans -- were either originated or acquired by Long Beach Mortgage Co. Fitch can be found online at http://www.fitchratings.com.

Subscribe Now

Authoritative analysis and perspective for every segment of the mortgage industry

30-Day Free Trial

Authoritative analysis and perspective for every segment of the mortgage industry