Sixteen classes of Residential Accredit Loan Inc. mortgage pass-through certificates have been downgraded by Fitch Ratings, and 15 classes have been placed on Rating Watch Negative.In addition, Fitch upgraded two classes and affirmed the ratings on 76 classes from 16 RALI securitizations. The negative rating actions on 2005 and 2006 vintage deals were due to current trends in the relationship between serious delinquencies and credit enhancement, Fitch said. Downgrades in 2001 and 2003 vintage deals were attributed to high delinquencies and losses. The collateral for the deals consists primarily of 15- and 30-year fixed-rate mortgage loans extended to alternative-A borrowers, the rating agency said.

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