Moody's Investors Service has placed under review for possible downgrade the class B-1F certificates issued from Delta Funding Home Equity Loan Trust 1997-3.The certificates "are being placed under review for possible downgrade based upon the diminishing credit enhancement levels relative to the current projected losses on the underlying pool," according to Moody’s. The transaction is primarily backed by first lien, adjustable and fixed rate subprime mortgage loans.

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