RASC HEL Classes Downgraded

Six classes from two Residential Asset Securities Corp. home equity transactions have been downgraded by Fitch Ratings.The downgrades were as follows: RASC series 2001-KS2 group 1, class M-I-1, from AA to AA-minus, class M-I-2, from A to A-minus, and class M-I-3, from BB to B; and RASC series 2001-KS3 group 1, class M-I-1, from AA to AA-minus, class M-I-2, from A to A-minus, and class M-I-3, from BBB-minus to B. Fitch also affirmed the ratings on 12 classes from the two deals. The rating actions were attributed to the "potential negative impact" of loan performance on the bonds. Fitch can be found online at http://www.fitchratings.com.

For reprint and licensing requests for this article, click here.
Servicing
MORE FROM NATIONAL MORTGAGE NEWS