Executives who relocate at their employers' request are among the most reliable mortgage borrowers, a new study says.

Loans to relocating corporate managers are 40% to 60% less likely to default than comparable mortgages to mainstream borrowers, says the Fitch Investors Service's report.

The ratings agency studied 20,350 relocation loans issued by Norwest Mortgage, the industry's largest lender of this type of loan.

In addition, when relocation loans do default, Fitch said, borrowers are much more likely to be up front about the problem, which reduces lenders' foreclosure and carrying costs.

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