A third U.S. mortgage servicer has owned up to a delay in reporting loan modifications that will result in losses for residential mortgage backed securities (RMBS).

Carrington Mortgage Services has informed Fitch Ratings that RMBS it services will recognize about $300 million in losses on principal forbearance that has yet to be reported as losses. The forbearance affects some 4,300 loans over 33 RMBS transactions

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