Fitch Downgrades Subprime Securities

Twelve classes of mortgage-backed securities issued by Credit Suisse First Boston Home Equity Asset Trust 2007-3 were downgraded by Fitch Ratings on Jan. 7 as a result of changes to its subprime loss forecasting assumptions. Fitch also affirmed the ratings on classes with outstanding balances of more than $170 million. The downgrades were attributed to changes in Fitch's subprime loss forecasting assumptions that "better capture the deteriorating performance of pools from 2006 and late 2005 with regard to continued poor loan performance and home price weakness."