MASTR MBS Classes Downgraded

Two classes of mortgage pass-through certificates in Mortgage Asset Securitization Transactions Specialized Loan Trust deals have been downgraded by Fitch Ratings.Class M-5 of series 2005-3 was downgraded from BBB-minus to BB, and class M-6 was downgraded from BB to B. Fitch also placed classes M-3 and M-4 of series 2005-3 and classes M-4 and B of series 2005-1 on Rating Watch Negative and affirmed the ratings on 15 classes in three MASTR securitizations. The rating agency attributed the downgrades to deterioration in the relationship between credit enhancement and loss expectations. Fitch said the collateral backing the transactions consists primarily of first- and second-lien fixed- and adjustable-rate mortgage loans.