Two certificates from two transactions issued by SACO I Trust have been placed under review for possible downgrade by Moody's Investors Service.The affected classes are class B-3 of SACO I Trust 2004-3 and class B-4 of SACO I Trust 2005-2. "These transactions are backed by closed-end seconds, and have seen recent losses that have exceeded the excess spread available, thereby depleting the overcollateralization," Moody's said.

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