GSMPS Mortgage Classes Under Review

Classes B3, B4, and B5 of GSMPS Mortgage Loan Trust, series 2003-1, have been placed under review for possible downgrade by Moody's Investors Service.The rating actions were taken because credit enhancement levels are low given the projected losses on the underlying pools of re-performing loans insured by the Federal Housing Administration or guaranteed by the Department of Veterans Affairs, the rating agency said. Virtually all the loans were repurchased from Ginnie Mae pools, according to Moody's.