Fitch Eyes Chase Pass-Thrus

Two classes from two series of Chase Funding mortgage pass-through certificates have been downgraded by Fitch Ratings.Class IIB of series 2003-3 group 2 and class IIB of series 2003-4 group 2 were placed on Rating Watch Negative. Fitch also affirmed the ratings on 13 classes of Chase mortgage pass-throughs. The rating agency said the group 2 certificates in both series are backed by adjustable-rate loans chiefly secured by first and second liens or deeds of trust on residential properties.