Twenty classes of Residential Accredit Loan Inc. mortgage securities have been downgraded by Fitch Ratings, and four classes have been placed on Rating Watch Negative.In addition, Fitch affirmed the ratings on 40 classes from 10 RALI securitizations and removed three classes from Rating Watch Negative. The negative rating actions were attributed to a deterioration in the relationship between credit enhancement and loss expectations. 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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