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Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: Real Man who wrote (8399)	6/5/2008 3:29:18 PM
From: Amelia Carhartt	Respond to of 71445

I'll keep the light on! ;)

To: Real Man who wrote (8399)	6/5/2008 7:58:16 PM
From: Giordano Bruno	Read Replies (1) \| Respond to of 71445

This just looks so official... 16:20 Fitch announces various rating actions on mortgage insurers Fitch has announced a number of rating actions on the U.S. private mortgage insurance sector. Several of these actions have led to downgrades of multiple notches to the insurer financial strength and debt ratings of the affected companies. Based on further review of the U.S mortgage market and its impact on the financial and insured portfolio performance of the mortgage insurance industry, Fitch has grown considerably more pessimistic on the outlook for the sector. The current trouble being experienced in the U.S. mortgage markets has spilled over from subprime into other mortgage products, such as adjustable-rate, negative amortizing, reduced documentation, and second-lien mortgages. The major factors driving the deterioration in mortgage performance indicators has been the poor underwriting process demonstrated by many mortgage lenders the past few years, combined with the continued and accelerating national home price decline which has eliminated the option to sell or refinance a home to avoid foreclosure for many borrowers... Fitch has placed the 'AA' insurer financial strength rating of Genworth Mortgage Insurance (GNW) and its operational affiliates on Rating Watch Negative. Fitch has downgraded the ratings on MGIC Investment Insurer (MTG) financial strength to 'A+' from 'AA' and its mortgage insurance subsidiaries Mortgage Guaranty Insuranceand MGIC Australia Pty. Fitch has downgraded the IFS ratings of PMI Mortgage Insurance (PMI) and its U.S. based operational affiliates to 'A+' from 'AA'. Fitch has also downgraded the IFS ratings of PMI's international mortgage insurance operations and the long-term issuer ratings of The PMI Group and PMI Capital I. Fitch has downgraded the insurer financial strength rating of Republic Mortgage Insurance to 'AA-' from 'AA' and has placed the rating on Rating Watch Negative