...Fitch Ratings has initiated a broad review of recent vintage Alternative-A (Alt-A) residential mortgage backed securities (RMBS). On March 6, Fitch placed rated classes from 417 Alt-A RMBS transactions on Rating Watch Negative (RWN). The RMBS placed on Rating Watch were issued in 2005, 2006, and 2007 and encompass the ratings spectrum from AAA to B . Fitch initiated this review in response to deteriorating mortgage performance resulting from declining home prices and adverse market conditions, combined with high-risk collateral products. The review incorporates revisions to Fitch s Alt-A surveillance methodology for th e 2005, 2006, and 2007 vintage collateral, as described in this report. Pools characterized as Alt-A credit quality generally have credit attributes that are slightly more risky than prime but more so und than subprime. Weighted average Fair Isaac Corp. (FICO) credit scores generally fall between 710 and 715, combined loan-to- value ratios (CLTVs) average...
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