Soundview HEL Classes Downgraded

Six 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-DO1, class M-10, from BBB-minus to BB-plus, class M-11, from BB-plus to BB, class B-1, from BB to BB-minus, and class B-2, from BB-minus to B-plus; and series 2005-OPT2, class M8, from BBB to BBB-minus, and class M9, from BBB-minus to BB-plus. In addition, class M-11 of series 2005-4 was placed on Rating Watch Negative. Fitch also upgraded five classes from one Soundview deal and affirmed the ratings on over 100 other classes in 15 Soundview transactions. The negative rating actions were attributed to a deterioration in the relationship between credit enhancement and loss expectations.