MASTR MBS Classes Downgraded

Four classes of certificates from MASTR Second Lien Trust series 2006-1 have been downgraded by Moody's Investors Service, three of which are being maintained on review for possible downgrade.The downgrades were as follows: class M-7, from B3 to C; class M-4, from Baa1 to Ba3; class M-5, from Baa2 to B3; and class M-6, from Baa3 to Caa3. Classes M-4, M-5, and M-6 were maintained on review for possible further downgrade. In addition, classes M-2 and M-3 were placed on review for possible downgrade. "These actions are based on the analysis of the credit enhancement provided by subordination, overcollateralization, and excess spread relative to the expected loss," Moody's said. The transaction is backed by closed-end subprime second-lien loans.