Moody's Eyes GSMPS MBS Classes

Three certificates from two GSMPS Mortgage Loan Trust deals have been placed under review for possible downgrade by Moody's Investors Service.The affected securities are class B5 of series 2002-1 and classes B-2 and B-3 of series 2005-LT1. In addition, Moody's placed three certificates from one GSMPS deal under review for possible upgrade. Moody's attributed the negative rating actions to credit enhancement levels that are low given the projected losses on the underlying pools. The transactions consist of securitizations of re-performing and nonperforming loans insured by the Federal Housing Administration or guaranteed by the Department of Veterans Affairs, virtually all of which were repurchased from Ginnie Mae pools, Moody's said.