14 Origen MH Classes Downgraded

Fourteen classes of senior, mezzanine, and subordinate certificates in two Origen manufactured housing securitizations have been downgraded by Moody's Investors Service.In series 2001-A, the downgrades were as follows: classes A-4 to A-7, from Aaa to A2; class M-1, from Aa2 to Ba2; class M-2, from A2 to Caa2; and class B, from Baa2 to C. In series 2002-A, the downgrades were as follows: classes A-1 to A-4, from Aaa to Aa2; class M-1, from Aa2 to A3; class M-2, from A2 to Ba3; and class B-1, from Baa2 to Caa3. The downgrades were attributed to weaker-than-expected performance by the pools. Delinquencies and repossessions have exceeded original expectations, leading to higher-than-expected cumulative losses, Moody's said. The rating agency can be found online at http://www.moodys.com.