Class B-4F of Ocwen Residential MBS Corp. mortgage pass-through certificates, series 1999-R1 group F, has been downgraded from CCC to CC by Fitch Ratings.The rating agency also affirmed and removed from Rating Watch Negative the rating on class B-4A of Ocwen Residential MBS Corp. mortgage pass-through certificates, series 1999-r1 group a. In addition, Fitch upgraded four classes from two Ocwen deals and affirmed the ratings on 11 classes in three Ocwen transactions. The downgrade was attributed to collateral losses that resulted in a decline in credit enhancement. Fitch can be found online at http://www.fitchratings.com.

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