Moody's Eyes IndyMac ARM Class

Moody's Investors Service has placed class B-3 of IndyMac ARM Trust, series 2001-H1, under review for possible downgrade.In addition, Moody's placed class B-1 under review for possible upgrade. The underlying loans consist mainly of first-lien hybrid adjustable-rate mortgage loans originated by IndyMac Bank FSB, the rating agency said. "The projected loss based on the deal's current delinquency pipeline suggests that current subordination levels are providing more than enough credit support for the class B-1 certificates, but not enough for the class B-3 certificates," Moody's said. Class B-3 is rated Baa2.