The July remittance data brought more bad news to an already down and out market, including the deterioration of credit performance for all indices at a faster pace than the previous two months, according to a report from Lehman Brothers.

Lehman noted that the month-over-month absolute increase in delinquencies for the ABX 2007-1 index in July was 1.94%, compared with 1.66% in June. The monthly increase in delinquencies in the July remittance is the highest since January 2007, indicating significant performance worsening over the past month, Lehman said.

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