Just 10% of the re-REMIC deals Fitch has been presented with get rated in the wake of a number of restrictions it has put in place over the last year and ratings in the category are less volatile as a result of the move.

As a result of these restrictions on rating resecuritizations of residential mortgage-backed securities in REMIC (real estate mortgage investment conduit) form, Fitch said it has been able to improve its rating stability but that there still is some downgrade risk in certain ratings in this category, particularly those it rated before tightening its criteria.

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