Negative equity and unemployment pressures have caused Fitch Ratings to take various ratings actions on 767 Alt-A credit RMBS deals.

"Home price declines have resulted in negative home equity for approximately half of the remaining performing borrowers in the 2005-2007 vintages and approximately 10% of the remaining performing borrowers for all transactions prior to 2005," said Fitch managing director Vincent Barberio. "Unemployment is up significantly since our last alt-A rating review," he added.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.