Three classes of Finance America Mortgage Loan Trust series 2003-1 have been downgraded by Fitch Ratings.The downgrades were as follows: M-4, from BBB-plus to BB; class M-5, from BBB to B; and class M-6, from BBB-minus to B-minus/DR1. Fitch also affirmed the ratings on three classes in the transaction. The downgrades were attributed to a deterioration in the relationship between credit enhancement and expected losses.

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