Deutsche MH Classes Downgraded

Six classes from two Deutsche Financial Capital manufactured housing transactions have been downgraded by Fitch Ratings.The downgrades were as follows: series 1997-I, classes A-3 to A-6, from AAA to AA-plus, and class M, from BBB to B-minus; and series 1998-I, class M, from B-minus to CCC. In addition, Fitch affirmed the ratings on six classes in series 1998-I. Fitch said DFC was a joint venture of Deutsche Financial Services Corp. and Oakwood Acceptance Corp. OAC was a wholly owned subsidiary of Oakwood Homes Corp., which filed for Chapter 11 bankruptcy protection in November 2002.

For reprint and licensing requests for this article, click here.
Servicing
MORE FROM NATIONAL MORTGAGE NEWS