Fives classes of Residential Accredit Loan Inc. mortgage asset-backed pass-through certificates from four RALI deals have been downgraded by Fitch Ratings.The downgrades were as follows: series 1997-QS5, class B-2, from CCC to C; series 1997-QS7, class B-2, from B to C and removed from Rating Watch Negative; series 1999-QS5, class B-1, from BB to BB-minus, and class B-2, from B-minus to CC; and series 1999-QS10, class B-1, from BB to B. In addition, Fitch upgraded eight classes and affirmed the ratings on 84 classes in 13 RALI securitizations. The rating agency attributed the downgrades to poor performance by the underlying collateral. Fitch can be found online at http://www.fitchratings.com.
Processing Content
