Subprime Bloodletting Continues at Fitch

NEW YORK, March 6 (Reuters) – Issuance of collateralized debt obligations backed by subprime loans may fall in the next six months due to concerns about bad loans and rising delinquencies, Fitch.

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Subprime ANL were at 7.80% in September, a 19% jump over August, while being 38% higher than a year earlier, according to Fitch. The rating agency continues to closely monitor prime and subprime auto ABS performance on an ongoing basis. Its auto ABS indexes track roughly billion worth of prime and subprime auto-loan ABS.

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Fitch expects "home prices will fall an additional 12.5% nationally and 36% in California" from Q1 2009. And, oh, you remember subprime? From HousingWire: Subprime Bloodletting Continues at Fitch fitch ratings today made massive downgrades on various vintage ’05 through ’08 subprime residential mortgage-backed securities (rmbs), indicating the extent of the fallout related to subprime.

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Fitch said estimates based on market prices of indexes such as the ABX and TABX indexes, based on subprime securities, showed that losses could be as high as $550 billion. ARTICLE CONTINUES BELOW.

"One reason why the UK subprime RMBS market continues to grow is that collateral and structural features of the market are seemingly becoming better understood by investors." It is mainly hedge funds and those who are looking for investments with a potentially higher rate of return who are buying UK subprime RMBS.

NEW YORK – Fitch Ratings believes the trends that led to an increase in the issuance of subprime auto ABS are likely to continue through the end of the year. Why? Analysts said on Tuesday that.

Fed Beige Book: Economic activity expanded in March, housing results mixed The Federal Reserve released the latest Beige Book on Wednesday which contained the following summation of U.S. economic activity [emphasis. "somewhat weaker;" housing is declining or "holding.

The Nation is reader supported: Chip in $10 or more to help us continue to write about the issues that matter.. And subprime loan packages would soon become the fastest-growing. When rating agencies Fitch, S&P, and Moody's downgraded the company's credit. But the bloodletting wasn't over.