The three major MBS rating agencies last week downgraded their servicer ratings for Fairbanks Capital Corp., the largest servicer in the subprime mortgage market and an increasingly prominent player in subprime securitizations. Standard & Poor’s lowered Fairbanks’ special servicer ranking to “below average,” while Moody’s Investors’ Service cut the company’s rating from SQ1 to SQ4, its second lowest grade. Fitch Ratings placed Fairbanks’ subprime, special