Two classes of Structured Asset Securities Corp. mortgage pass-through certificates have been downgraded by Fitch Ratings.Class 2B4 of SASCO 2000-3 Group 2 was downgraded from BB to CCC and remains on Rating Watch Negative, and class 2B5 of the deal was downgraded from C to D. The rating agency attributed the downgrades to loss levels and expected losses on "the current severely delinquent loans in the pipeline" relative to the applicable credit support. Fitch said 10.61% of the SASCO 2000-3 Group 2 pool is over 90 days delinquent, and cumulative losses total 0.54% of the initial pool.
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