Italy's more conservative approach to lending has resulted in the country's housing market withstanding the current economic environment, unlike neighboring European countries. This has also preserved the fundamentals of securitization structures.

According to Fitch Ratings, Italy represents one of the most important RMBS markets in Europe, with a market share of 6% by issuance size and 9% by number of deals in 2007. During this year, RMBS continued to represent the Italian securitization market's main asset class in terms of volume and number of deals, at 64% and 48%, respectively.

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