Two certificates from a series of Bear Stearns asset-backed securities issued in 2001 have been placed under review for possible downgrade by Moody's Investors Service.The deal, Bear Stearns Home Loan Owner Trust 2001-A Home Loan-Backed Notes, Series 2001-A, is backed by high-loan-to-value junior-lien home equity and home improvement loans originated by Conseco Finance Corp. Classes M-2 and B, the two most subordinate fixed-rate certificates, were placed on review for possible downgrade "because existing credit enhancement levels may be low given the current projected losses on the underlying pools," Moody's said. The transaction has taken "significant losses," and the most subordinate tranche has begun taking writedowns, the rating agency said. Moody's can be found online at http://www.moodys.com.

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