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Loan Modification

: Mortgage Lender Implode-o-Meter

Fitch Slashes Prime RMBS to Junk

By Implode-Explode Heavy Industries

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"Fitch Ratings downgraded multiple Citigroup Mortgage RMBS series from triple-A to junk today after placing them on negative rating watch. The ratings agency made the downgrades as part of an ongoing review of prime and Alt-A RMBS transactions as the housing downturn continues to unwind."

Full post as published by Mortgage Lender Implode-o-Meter on May 15, 2009 (boomark / email).

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