Eleven classes from three GreenPoint Credit Manufactured Housing Trusts have been downgraded by Fitch Ratings.The downgrades were as follows: series 1999-5, classes M-1A and M-1B, from AA-minus to A-minus, and class M-2, from BBB to BB-minus; series 2000-1, class A-3, from AA to A, classes A-4 and A-5, from A-plus to BBB, class M-1, from BBB-minus to BB-minus, and class M-2, from CCC to C; and series 2000-3, class I A, from A-minus to BBB-minus, class I M-1, from BB-plus to B, and class I M-2, from CCC to CC. In addition, Fitch affirmed the ratings on six classes from four Greenpoint MH deals. The rating agency attributed the downgrades to greater-than-expected losses. The loans are serviced by GreenPoint Credit, a subsidiary of GreenPoint Financial Corp. GreenPoint exited the manufactured housing lending business in early 2002, but has continued to service its loan portfolio. Fitch can be found online at http://www.fitchratings.com.

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