Conseco/Green Tree MH Classes Downgraded

Fitch Ratings has downgraded 114 classes of Conseco/Green Tree manufactured housing loan securities.The rating agency also upgraded 14 classes from various Conseco/Green Tree deals and affirmed the ratings on 52 classes. Fitch noted that Conseco Finance Corp. filed for Chapter 11 bankruptcy in 2002, and that its MH platform was sold to CFN Investment Holdings LLC in June 2003 and the servicing platform was renamed Green Tree Servicing LLC. "From mid-2003 until mid-2004, the collateral performance improved notably and has remained generally stable since mid-2004," Fitch said. "However, collateral losses have continued to exceed excess spread, causing bond writedowns and credit enhancement deterioration." Fitch can be found on the Web at http://www.fitchratings.com.