Fitch Downgrades National City, Wamu, Others on Home Equity Concerns

(The following statement was released by the ratings agency) March 10 – This is a correction for a message issued on March 7, 2008. It amends the ratings list. Fitch Ratings has taken a variety of.

Investors who have piled into US municipal debt face rating downgrades on their bonds next. as it is based on home prices still resetting at lower assessment valuations, Fitch said. Contributions.

The issues. 1.43pm: City Index analyst Peter Esho says QBE has shocked the market. ”There won’t be too many brave investors stepping in to catch this falling knife," he told Reuters. "Margins have.

Being heavily concentrated in mortgages and less diversified than other major banking entities, WaMu – along with Cleveland-based National City Corp. – faces above-average risk in the housing.

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Fitch views home equity reset risk as an industry concern. PNC has approximately $4.1 billion of. Fitch is withdrawing the ratings of National City Credit Corp. as the entity no longer exists, and.

In addition, lack of adequate liquidity remains a concern. to downgraded outlook. In addition to TCF Financial, Fitch lowered IDRs of Fulton Financial Corporation (FULT). On the other hand, the.

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Mortgage Strategery. We’ve seen it with other bank stocks, Indymac, National City, WAMU. In indymac’s case, they went out of business. For WAMU and National City, amongst others, they’re hanging on for dear life. Now, I call it a "death spiral", but it doesn’t necessarily mean that the.

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Fitch Downgrades National City, Wamu, Others on Home Equity Concerns View news & video headlines for Monday, 14 Jul, 2008 on Fitch Downgrades & Removes Financial Freedom’s Servicer Rating from. National City Issues Statement in.

While National City is a diversified company, other aspects of the organization have not been able to fill the earnings void from the mortgage business.’ Fitch Ratings The fresh. Corsair Capital is.

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From Paul Jackson at Housing Wire: Fitch Downgrades National City, Wamu, Others on Home Equity Concerns Deterioration within home equity portfolios will clearly emerge in first-quarter 2008," the agency said in a press statement late Friday, "which is earlier than Fitch previously expected."