Securitization

Friday Night, Lights Out — Fitch Downgrades $5.3 Billion in RMBS 

Keeping up with the downgrades on various subprime RMBS deals here at HW is turning into a full time job. (And one that requires plenty of coffee.) Here’s a list of the downgrades issued tonight by Fitch alone — remember, these are the downgrades issued just in one night at one rating agency. Total downgraded dollar value: $5.3 billion. $9.53 million downgraded from a 2002 Centex RMBS deal — 17.90 percent of loans 60+ days delinquent.