Moody's Eyes 52 Green Tree MH Classes

Fifty-two classes from 20 Green Tree Financial Corp. (later Conseco Finance Corp.) manufactured housing securitizations have been placed on review for possible downgrade by Moody's Investors Service.The rating agency said the review was prompted by the continued weaker-than-expected performance of Green Tree's pools. "Although repossessions and loss severities have decreased, the improvement has been slower than expected," Moody's said. "As a result, losses remain high and credit support continues to erode. The B-2 classes of many of the pools have been completely written down." The transactions are being serviced by Green Tree Investment Holdings II LLC -- a joint venture of Fortress Investment Group LLC and Cerberus Capital Management -- which bought the MH servicing platform of Conseco Finance in 2003. Moody's can be found online at http://www.moodys.com.