Soundview HEL Classes Downgraded

Three classes in two Soundview Home Equity Loan Trust securitizations have been downgraded by Fitch Ratings, and one other class has been placed on Rating Watch Negative.The downgrades were as follows: series 2005-A, class B4, from BB-minus to C; and series 2005-B, class M14, from BB-minus to B-plus, and class M15, from B-plus to C. In addition, class B3 of series 2005-A was placed on Rating Watch Negative, class B4 of series 2005-A was assigned a Distressed Recovery rating of DR5, and class M15 of series 2005-B was assigned a Distressed Recovery rating of DR6. Fitch also affirmed the ratings on 28 other classes in the two transactions. The downgrades were attributed to a deterioration in the relationship between credit enhancement and loss expectations.