Eight certificates from four transactions issued by Bear Stearns Mortgage Funding Trust have been placed on review for possible downgrade by Moody's Investors Service.The affected securities are as follows: series 2006-SL1, classes M-6, B-1, B-2, B-3, and B-4; series 2006-SL2, class B-4; series 2006-SL3, class B-4; and series 2006-SL4, class B-4. "The projected pipeline loss has increased over the past few months and may affect the credit support for these certificates," Moody's said. The transactions are backed by second-lien loans.
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