The ratings on three classes of Vanderbilt Mortgage and Finance Manufactured Housing securitizations have been placed on Rating Watch Negative by Fitch Ratings.The affected classes are class B-1 of series 2000-C, class 1B-1 of series 2000-D, and class 1B-1 of series 2001-B. In addition, 17 classes were upgraded and the ratings on 55 classes were affirmed. "Although losses allocated to the trust have been low due to Vanderbilt's practice of repurchasing defaulted loans out of the trust at par, the performance of the company's loans has been worse than initially expected," Fitch said. The rating agency can be found online at http://www.fitchratings.com.
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