Soundview 2nd Lien Classes Downgraded

Ten classes in three Soundview Home Equity Loan Trust Second Lien securitizations have been downgraded by Fitch Ratings.The downgrades were as follows: series 2005-A, class B-1, from BBB-minus to BB-minus, class B-2, from BB-plus to B, and class B-3, from BB to C (and assigned a Distressed Recovery rating of DR6); series 2005-B, class M-11, from BBB to BB, class M-12, from BBB-minus to B, class M-13, from BB-plus to C (and assigned a DR rating of DR6), and class M-14, from B-plus to C (and assigned a DR rating of DR6); and series 2006-A, class M12, from BB-minus to B-plus, class M-13, from B-plus to C (and assigned a DR rating of DR6), and class M-14, from B to C (and assigned a DR rating of DR6). In addition, class M-11 of series 2006-A was placed on Rating Watch Negative. Fitch also affirmed the ratings on 33 other classes in the three Soundview transactions. The negative rating actions were attributed to a deterioration in the relationship between credit enhancement and loss expectations.