Five classes from five Conseco/Green Tree home equity loan deals have been downgraded by Fitch Ratings.The downgrades were as follows: Green Tree Home Equity 1998-C, class B-2, from CCC/DR1 to CC/DR2; Green Tree Home Equity 1999-C, class B-2, from C/DR2 to C/DR6; Green Tree Home Equity 1999-D, class B-2, from CCC/DR1 to C/DR4; Conseco Home Equity 2001-B B2, class B-2, from BB to B-plus; and Conseco Home Equity 2001-D, class B-1, from BB-minus to B. In addition, Fitch upgraded 11 classes and affirmed the ratings on 54 other classes in 18 Conseco/Green Tree home equity and home improvement transactions. The downgrades were attributed to a deteriorating relationship between credit enhancement and expected losses. Fitch can be found online at http://www.fitchratings.com.

Subscribe Now

Authoritative analysis and perspective for every segment of the mortgage industry

30-Day Free Trial

Authoritative analysis and perspective for every segment of the mortgage industry