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

``Fitch said its downgrade of Washington Mutual reflected a higher concentration in not only home equity lending, but also residential mortgage loans, across the credit spectrum. While subprime makes up about 7 percent of loans and a disproportionate amount of net charge-offs at the Seattle-based bank, the rating agency said it “remains concerned about the broader loan portfolio that is consumer real estate secured.”''