Moody's Eyes Bear ARM Classes

Classes B-2 and B-3 of Bear Stearns ARM Trust series 2001-4 have been placed under review for possible downgrade by Moody's Investors Service.The rating actions were taken because existing credit enhancement levels "may be low given the current level of foreclosures on the underlying pools," Moody's said. The most junior subordinate class, B-6, is completely written down, leaving the class B-3 certificates protected only by a $486,194 balance from classes B-4 and B-5 as of the April 25 reporting date, the rating agency reported. Moody's can be found on the Web at http://www.moodys.com.