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Subprime Bloodletting Continues at Fitch

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Fitch: Subprime lending is re-emerging. The long-defunct securities market for subprime U.S. home loans has begun to re-emerge, according to Fitch Ratings. In the past 18 months, 10 "non-prime" securities deals totaling $1 billion were offered to investors by five issuers, the rating agency said.

Subprime Bloodletting Continues at Fitch Post By Joyner contents powerful state role enacting.mortgage rates remain Luminent mortgage capital Aegis mortgage corp. Annualized net loss on an index of subprime auto loans hit 9.6 percent in October, up from about 8 percent a year earlier, according to Fitch.

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6 Black Book – Fitch Ratings: Vehicle Depreciation Report August, 2015 Auto Lease Residual Gains Declining in 2015 Fitch’s auto lease RV index recorded a gain of 4.79% in June, which was within range of the prior six months but the overall trend is of lower residual values in 2015, and Fitch expects this to continue in the latter half of 2015.

Fitch Ratings has taken the following rating actions on Bank of America, N.A.’s (BANA) U.S. residential mortgage servicer ratings: –Primary servicer

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.

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 $59 billion worth of prime and subprime auto-loan ABS.

Delinquencies on US subprime auto asset-based securities (abs) have risen above 2009 recessionary levels and are now at a level not seen in nearly two decades. Fitch Ratings reports that subprime delinquencies of 60 days or more hit 5.16% for February reporting, marking the highest level observed since October 1996 (5.96%).

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NEW YORK–(BUSINESS WIRE)–Fitch Ratings has affirmed the U.S. residential servicer ratings for Carrington Mortgage Services, LLC (Carrington) with a Stable Outlook as follows: –U.S. residential.

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NEW YORK–(BUSINESS WIRE)–Fitch Ratings has affirmed the following U.S. residential. Residential primary servicer rating for subprime product affirmed at ‘RPS3+’; Outlook Stable; –Residential.

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