Classes B-1 and B-2 of CDC Mortgage Capital Trust 2002-HE3 have been placed under review for possible downgrade by Moody's Investors Service.The actions were attributed to the weaker-than-expected performance of the mortgage pool and the resulting erosion of credit support. "The deal lost over $1 million of overcollateralization from July 2006 to August 2006, and future losses could cause further erosion of the overcollateralization and put pressure on the most subordinate tranches," Moody's said. The transaction consists primarily of first-lien subprime mortgage loans. The rating agency can be found on the Web at http://www.moodys.com.
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