Class M-3 of Soundview Home Equity Loan Trust 2001-2 has been downgraded from Baa2 to Ba2 by Moody's Investors Service.The downgrade was attributed to low credit enhancement levels relative to expected losses. "The collateral has taken losses, and the pipeline loss could cause continual erosion of the overcollateralization," Fitch said. The transaction is backed by first- and second-lien, fixed- and adjustable-rate subprime mortgage loans. The rating agency can be found online at http://www.fitchratings.com.
Processing Content
