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Rating Action:

Moody's Takes Action on Certain HarborView Option ARM deals

20 Feb 2009

New York, February 20, 2009 -- Moody's Investors Service has downgraded 492 tranches from 36 HarborView Option ARM deals.

The collateral backing these transactions consists primarily of first-lien, adjustable-rate, negative amortization, Alt-A mortgage loans. The actions are triggered by rapidly increasing delinquencies, higher severities, slower prepayments and mounting losses in the underlying collateral. Additionally, the continued deterioration of the housing market has also contributed to the increased loss expectations for Option ARM pools. The actions listed below reflect Moody's updated expected losses on the Option ARM sector announced in a press release on February 5, 2009, and are part of Moody's on-going review process.

Moody's final rating actions are based on current ratings, level of credit enhancement, collateral performance and updated pool-level loss expectations relative to current level of credit enhancement. Moody's took into account credit enhancement provided by seniority, cross-collateralization, excess spread, time tranching, and other structural features within the senior note waterfalls.

For details regarding Moody's approach towards calculating updated expected losses on Alt-A pools backed by collateral originations between 2003 and 2007, please refer to the methodology publication "Option ARMs RMBS Loss Projection Update: February 2009," available on Moodys.com.

Loss estimates are subject to variability and are sensitive to assumptions used; as a result, realized losses could ultimately turn out higher or lower than our current expectations. Moody's will continue to evaluate performance data as it becomes available and will assess the pattern of potential future defaults and adjust loss expectations accordingly as necessary.

Moody's Investors Service also reviewed underlying ratings of insured certificates as noted below. The underlying rating reflects the intrinsic credit quality of the certificate in the absence of the guarantee. The current ratings are consistent with Moody's practice of rating insured securities at the higher of the guarantor's insurance financial strength rating and the underlying rating based on Moody's modified approach to rating structured finance securities wrapped by financial guarantors.

Complete rating actions are as follows:

HarborView Mortgage Loan Trust 2003-3

Cl. 1A-1, Downgraded to Baa2; previously on 1/23/2004 Assigned Aaa

Cl. 2A-1, Downgraded to Aa3; previously on 1/23/2004 Assigned Aaa

Cl. 2A-3, Downgraded to Aa3; previously on 1/23/2004 Assigned Aaa

Cl. A-X, Downgraded to Baa2; previously on 1/23/2004 Assigned Aaa

Cl. B-1, Downgraded to Ba1; previously on 1/23/2004 Assigned Aa2

Cl. B-2, Downgraded to Ca; previously on 1/23/2004 Assigned A2

Cl. B-3, Downgraded to C; previously on 1/23/2004 Assigned Baa2

HarborView Mortgage Loan Trust 2004-11

Cl. 1-A, Downgraded to B1; previously on 1/11/2005 Assigned Aaa

Cl. 2-A1A, Downgraded to B1; previously on 1/11/2005 Assigned Aaa

Cl. 2-A1B, Downgraded to B3; previously on 9/8/2008 Downgraded to Aa3

Cl. 2-A2A, Downgraded to Baa2; previously on 1/11/2005 Assigned Aaa

Cl. 2-A2B, Downgraded to B3; previously on 9/8/2008 Downgraded to Aa3

Cl. 2-A3, Downgraded to Caa1; previously on 9/8/2008 Downgraded to Aa3

Cl. 3-A1A, Downgraded to Ba1; previously on 1/11/2005 Assigned Aaa

Cl. 3-A1B, Downgraded to B3; previously on 9/8/2008 Downgraded to Aa3

Cl. 3-A2A, Downgraded to Baa1; previously on 1/11/2005 Assigned Aaa

Cl. 3-A2B, Downgraded to B3; previously on 9/8/2008 Downgraded to Aa3

Cl. 3-A3, Downgraded to B3; previously on 9/8/2008 Downgraded to Aa2

Cl. 3-A4, Downgraded to B3; previously on 9/8/2008 Downgraded to Aa3

Cl. X-1, Downgraded to B3; previously on 1/11/2005 Assigned Aaa

Cl. X-2, Downgraded to B3; previously on 1/11/2005 Assigned Aaa

Cl. X-3, Downgraded to B3; previously on 1/11/2005 Assigned Aaa

Cl. X-B, Downgraded to B3; previously on 9/8/2008 Downgraded to A3

Cl. B-1, Downgraded to C; previously on 9/8/2008 Downgraded to A3

Cl. B-2, Downgraded to C; previously on 9/8/2008 Downgraded to Ba3

Cl. B-3, Downgraded to C; previously on 9/8/2008 Downgraded to Caa1

Cl. B-4, Downgraded to C; previously on 6/26/2008 Downgraded to Ca

HarborView Mortgage Loan Trust 2004-2

Cl. 1A-1, Downgraded to A1; previously on 6/14/2004 Assigned Aaa

Cl. 2A-1, Downgraded to A1; previously on 6/14/2004 Assigned Aaa

Cl. A-X, Downgraded to A1; previously on 6/14/2004 Assigned Aaa

Cl. B-1, Downgraded to Ba1; previously on 6/14/2004 Assigned Aa2

Cl. B-2, Downgraded to Caa1; previously on 6/14/2004 Assigned A2

Cl. B-3, Downgraded to C; previously on 6/14/2004 Assigned Baa2

Cl. B-4, Downgraded to C; previously on 6/14/2004 Assigned Ba2

HarborView Mortgage Loan Trust 2004-8

Cl. 1-A, Downgraded to Ba1; previously on 12/22/2004 Assigned Aaa

Cl. 2-A1, Downgraded to Ba1; previously on 12/22/2004 Assigned Aaa

Cl. 2-A2, Downgraded to Ba1; previously on 12/22/2004 Assigned Aaa

Cl. 2-A3, Downgraded to Ba1; previously on 12/22/2004 Assigned Aaa

Cl. 2-A4A, Downgraded to Baa2; previously on 12/22/2004 Assigned Aaa

Cl. 2-A4B, Downgraded to Ba1; previously on 12/22/2004 Assigned Aaa

Cl. 3-A1, Downgraded to Ba1; previously on 12/22/2004 Assigned Aaa

Cl. 3-A2, Downgraded to Ba1; previously on 12/22/2004 Assigned Aaa

Cl. X, Downgraded to Ba1; previously on 12/22/2004 Assigned Aaa

Cl. B-1, Downgraded to Caa3; previously on 12/22/2004 Assigned Aa2

Cl. B-2, Downgraded to C; previously on 12/22/2004 Assigned A2

Cl. B-3, Downgraded to C; previously on 12/22/2004 Assigned Baa2

Cl. B-4, Downgraded to C; previously on 6/26/2008 Downgraded to Ba3

HarborView Mortgage Loan Trust 2004-9

Cl. 1-A, Downgraded to Ba1; previously on 1/17/2005 Assigned Aaa

Cl. 2-A, Downgraded to Ba1; previously on 1/17/2005 Assigned Aaa

Cl. 3-A, Downgraded to Ba1; previously on 1/17/2005 Assigned Aaa

Cl. 4-A1A, Downgraded to Baa2; previously on 1/17/2005 Assigned Aaa

Cl. 4-A1B, Downgraded to Ba1; previously on 1/17/2005 Assigned Aaa

Cl. 4-A2, Downgraded to Ba1; previously on 1/17/2005 Assigned Aaa

Cl. 4-A3, Downgraded to Ba1; previously on 1/17/2005 Assigned Aaa

Cl. X, Downgraded to Ba1; previously on 1/17/2005 Assigned Aaa

Cl. B-1, Downgraded to Caa1; previously on 1/17/2005 Assigned Aa2

Cl. B-2, Downgraded to C; previously on 1/17/2005 Assigned A2

Cl. B-3, Downgraded to C; previously on 1/17/2005 Assigned Baa2

Cl. B-4, Downgraded to C; previously on 1/17/2005 Assigned Ba2

HarborView Mortgage Loan Trust 2005-1

Cl. 1-A, Downgraded to Baa3; previously on 5/31/2005 Assigned Aaa

Cl. 2-A1A, Downgraded to Aa2; previously on 5/31/2005 Assigned Aaa

Cl. 2-A1B, Downgraded to Ba1; previously on 5/31/2005 Assigned Aaa

Cl. 2-A2, Downgraded to Ba1; previously on 5/31/2005 Assigned Aaa

Cl. X-IO, Downgraded to Aa2; previously on 5/31/2005 Assigned Aaa

Cl. X-PO-1, Downgraded to Ba1; previously on 5/31/2005 Assigned Aaa

Cl. X-PO-2, Downgraded to Ba1; previously on 5/31/2005 Assigned Aaa

Cl. B-1, Downgraded to Caa3; previously on 5/31/2005 Assigned Aa2

Cl. B-2, Downgraded to C; previously on 6/26/2008 Downgraded to A3

Cl. B-3, Downgraded to C; previously on 6/26/2008 Downgraded to Ba1

HarborView Mortgage Loan Trust 2005-10

Cl. 1-A1A, Downgraded to B2; previously on 9/26/2005 Assigned Aaa

Cl. 1-A1B, Downgraded to Baa1; previously on 9/18/2008 Downgraded to Aa3

Current Underlying Rating: Downgraded to Ca; previously on 9/18/2008 Published at Aa3

Financial Guarantor: Ambac Assurance Corporation (Assigned Baa1 on 11/5/2008)

Cl. 2-A1A, Downgraded to Baa3; previously on 9/26/2005 Assigned Aaa

Cl. 2-A1B, Downgraded to Caa1; previously on 9/26/2005 Assigned Aaa

Cl. 2-A1C1, Downgraded to Baa1; previously on 9/18/2008 Downgraded to Aa3

Current Underlying Rating: Downgraded to Ca; previously on 9/18/2008 Published at Aa3

Financial Guarantor: Ambac Assurance Corporation (Assigned Baa1 on 11/5/2008)

Cl. 2-A1C2, Downgraded to Ca; previously on 9/8/2008 Downgraded to Aa3

Cl. PO, Downgraded to Caa2; previously on 9/26/2005 Assigned Aaa

Cl. X, Downgraded to Baa3; previously on 9/26/2005 Assigned Aaa

Cl. B-1, Downgraded to C; previously on 9/8/2008 Downgraded to A3

Cl. B-2, Downgraded to C; previously on 9/8/2008 Downgraded to Baa2

Cl. B-3, Downgraded to C; previously on 9/8/2008 Downgraded to Ba2

Cl. B-4, Downgraded to C; previously on 9/8/2008 Downgraded to B3

Cl. B-5, Downgraded to C; previously on 9/8/2008 Downgraded to Caa1

Cl. B-6, Downgraded to C; previously on 9/8/2008 Downgraded to Caa3

Cl. B-7, Downgraded to C; previously on 9/8/2008 Downgraded to Ca

Cl. B-8, Downgraded to C; previously on 9/8/2008 Downgraded to Ca

Cl. B-9, Downgraded to C; previously on 9/8/2008 Downgraded to Ca

HarborView Mortgage Loan Trust 2005-11

Cl. 1-A-1A, Downgraded to Ba1; previously on 9/19/2005 Assigned Aaa

Cl. 1-A-1B, Downgraded to Caa1; previously on 10/2/2008 Downgraded to Aa2

Current Underlying Rating: Downgraded to Caa1; previously on 10/2/2008 Published at Aa2

Financial Guarantor: Syncora Guarantee Inc. (Assigned Caa1, Outlook Uncertain on 10/24/2008)

Cl. 2-A-1A, Downgraded to A1; previously on 9/19/2005 Assigned Aaa

Cl. 2-A-1B, Downgraded to Ba3; previously on 9/19/2005 Assigned Aaa

Cl. 2-A-1C, Downgraded to Caa1; previously on 10/2/2008 Downgraded to Aa2

Current Underlying Rating: Downgraded to Caa1; previously on 10/2/2008 Published at Aa2

Financial Guarantor: Syncora Guarantee Inc. (Assigned Caa1, Outlook Uncertain on 10/24/2008)

Cl. B-1, Downgraded to C; previously on 9/8/2008 Downgraded to Baa1

Cl. B-2, Downgraded to C; previously on 9/8/2008 Downgraded to B3

Cl. B-3, Downgraded to C; previously on 9/8/2008 Downgraded to Ca

Cl. PO, Downgraded to Caa1; previously on 9/19/2005 Assigned Aaa

Cl. X, Downgraded to A1; previously on 9/19/2005 Assigned Aaa

HarborView Mortgage Loan Trust 2005-12

Cl. 1-A-1A, Downgraded to Caa1; previously on 9/8/2008 Downgraded to Aa2

Cl. 1-A-1B, Downgraded to Baa1; previously on 11/17/2008 Downgraded to A3

Current Underlying Rating: Downgraded to Ca; previously on 9/8/2008 Published at A3

Financial Guarantor: Ambac Assurance Corporation (Assigned Baa1 on 11/5/2008)

Cl. 2-A1A1, Downgraded to Ba3; previously on 10/14/2005 Assigned Aaa

Cl. 2-A1A2, Downgraded to Ba3; previously on 10/14/2005 Assigned Aaa

Cl. 2-A1B, Downgraded to Baa1; previously on 11/17/2008 Downgraded to A3

Current Underlying Rating: Downgraded to Ca; previously on 9/8/2008 Published at A3

Financial Guarantor: Ambac Assurance Corporation (Assigned Baa1 on 11/5/2008)

Cl. PO-1, Downgraded to Caa2; previously on 9/8/2008 Downgraded to Aa2

Cl. PO-2A, Downgraded to Caa2; previously on 10/14/2005 Assigned Aaa

Cl. PO-2B, Downgraded to Caa2; previously on 10/14/2005 Assigned Aaa

Cl. PO-B, Downgraded to Caa2; previously on 9/8/2008 Downgraded to B3

Cl. X-1, Downgraded to Caa1; previously on 9/8/2008 Downgraded to Aa2

Cl. X-2A, Downgraded to Ba3; previously on 10/14/2005 Assigned Aaa

Cl. X-2B, Downgraded to Ba3; previously on 10/14/2005 Assigned Aaa

Cl. X-B, Downgraded to Ca; previously on 9/8/2008 Downgraded to B3

Cl. B-1, Downgraded to C; previously on 9/8/2008 Downgraded to B3

Cl. B-2, Downgraded to C; previously on 9/8/2008 Downgraded to Caa2

Cl. B-3, Downgraded to C; previously on 9/8/2008 Downgraded to Ca

Cl. B-4, Downgraded to C; previously on 9/8/2008 Downgraded to Ca

HarborView Mortgage Loan Trust 2005-13

Cl. 1-A-1A, Downgraded to B2; previously on 10/18/2005 Assigned Aaa

Cl. 1-A-1B, Downgraded to Baa1; previously on 11/17/2008 Downgraded to A1

Current Underlying Rating: Downgraded to Caa3; previously on 10/2/2008 Published at A1

Financial Guarantor: Ambac Assurance Corporation (Assigned Baa1 on 11/5/2008)

Cl. 2-A1A1, Downgraded to Caa1; previously on 10/18/2005 Assigned Aaa

Cl. 2-A1A2, Downgraded to Caa1; previously on 10/18/2005 Assigned Aaa

Cl. 2-A1B, Downgraded to Ca; previously on 10/18/2005 Assigned Aaa

Cl. 2-A1C, Downgraded to Baa1; previously on 11/17/2008 Downgraded to A1

Current Underlying Rating: Downgraded to Ca; previously on 10/2/2008 Published at A1

Financial Guarantor: Ambac Assurance Corporation (Assigned Baa1 on 11/5/2008)

Cl. PO, Downgraded to Caa2; previously on 10/18/2005 Assigned Aaa

Cl. X, Downgraded to B2; previously on 10/18/2005 Assigned Aaa

Cl. B-1, Downgraded to C; previously on 9/8/2008 Downgraded to B2

Cl. B-2, Downgraded to C; previously on 9/8/2008 Downgraded to Caa2

Cl. B-3, Downgraded to C; previously on 9/8/2008 Downgraded to Ca

Cl. B-4, Downgraded to C; previously on 9/8/2008 Downgraded to Ca

Cl. B-5, Downgraded to C; previously on 6/26/2008 Downgraded to Ca

HarborView Mortgage Loan Trust 2005-15

Cl. 1-A1A, Downgraded to B3; previously on 11/17/2005 Assigned Aaa

Cl. 1-A1B, Downgraded to Caa1; previously on 10/2/2008 Downgraded to A1

Current Underlying Rating: Downgraded to Ca; previously on 10/2/2008 Published at A1

Financial Guarantor: Syncora Guarantee Inc. (Assigned Caa1, Outlook Uncertain on 10/24/2008)

Cl. 2-A1A1, Downgraded to Baa3; previously on 11/17/2005 Assigned Aaa

Cl. 2-A1A2, Downgraded to Baa3; previously on 11/17/2005 Assigned Aaa

Cl. 2-A1B, Downgraded to B3; previously on 11/17/2005 Assigned Aaa

Cl. 2-A1C, Downgraded to Ca; previously on 9/8/2008 Downgraded to A1

Cl. 3-A1A1, Downgraded to B2; previously on 11/17/2005 Assigned Aaa

Cl. 3-A1A2, Downgraded to B2; previously on 11/17/2005 Assigned Aaa

Cl. 3-A1B, Downgraded to Caa2; previously on 11/17/2005 Assigned Aaa

Cl. 3-A1C, Downgraded to Ca; previously on 9/8/2008 Downgraded to A1

Cl. PO-1, Downgraded to Caa2; previously on 11/17/2005 Assigned Aaa

Cl. PO-2, Downgraded to Caa2; previously on 11/17/2005 Assigned Aaa

Cl. PO-3A, Downgraded to Caa2; previously on 11/17/2005 Assigned Aaa

Cl. PO-3B, Downgraded to Ca; previously on 11/17/2005 Assigned Aaa

Cl. PO-B, Downgraded to Caa2; previously on 9/8/2008 Downgraded to Baa1

Cl. X-1, Downgraded to B3; previously on 11/17/2005 Assigned Aaa

Cl. X-2, Downgraded to Baa3; previously on 11/17/2005 Assigned Aaa

Cl. X-3A, Downgraded to B2; previously on 11/17/2005 Assigned Aaa

Cl. X-3B, Downgraded to B2; previously on 11/17/2005 Assigned Aaa

Cl. X-B, Downgraded to Ca; previously on 9/8/2008 Downgraded to Baa1

Cl. B-1, Downgraded to C; previously on 9/8/2008 Downgraded to Baa1

Cl. B-2, Downgraded to C; previously on 9/8/2008 Downgraded to Ba2

Cl. B-3, Downgraded to C; previously on 9/8/2008 Downgraded to B2

Cl. B-4, Downgraded to C; previously on 9/8/2008 Downgraded to B3 and Placed Under Review for Possible Downgrade

Cl. B-5, Downgraded to C; previously on 9/8/2008 Downgraded to Caa2

Cl. B-6, Downgraded to C; previously on 9/8/2008 Downgraded to Ca

Cl. B-7, Downgraded to C; previously on 9/8/2008 Downgraded to Ca

Cl. B-8, Downgraded to C; previously on 9/8/2008 Downgraded to Ca

Cl. B-9, Downgraded to C; previously on 9/8/2008 Downgraded to Ca

Cl. B-10, Downgraded to C; previously on 6/26/2008 Downgraded to Ca

HarborView Mortgage Loan Trust 2005-16

Cl. 1-A1A, Downgraded to B1; previously on 12/13/2005 Assigned Aaa

Cl. 1-A1B, Downgraded to Baa1; previously on 11/17/2008 Downgraded to A3

Current Underlying Rating: Downgraded to Ca; previously on 10/2/2008 Published at A3

Financial Guarantor: Ambac Assurance Corporation (Assigned Baa1 on 11/5/2008)

Cl. 2-A1A, Downgraded to B1; previously on 12/13/2005 Assigned Aaa

Cl. 2-A1B, Downgraded to Ca; previously on 12/13/2005 Assigned Aaa

Cl. 2-A1C, Downgraded to Baa1; previously on 11/17/2008 Downgraded to A3

Current Underlying Rating: Downgraded to Ca; previously on 10/2/2008 Published at A3

Financial Guarantor: Ambac Assurance Corporation (Assigned Baa1 on 11/5/2008)

Cl. 3-A1A, Downgraded to Ba3; previously on 12/13/2005 Assigned Aaa

Cl. 3-A1B, Downgraded to Caa3; previously on 12/13/2005 Assigned Aaa

Cl. 3-A1C, Downgraded to Baa1; previously on 11/17/2008 Downgraded to A3

Current Underlying Rating: Downgraded to Ca; previously on 10/2/2008 Published at A3

Financial Guarantor: Ambac Assurance Corporation (Assigned Baa1 on 11/5/2008)

Cl. 4-A1A, Downgraded to Caa1; previously on 12/13/2005 Assigned Aaa

Cl. 4-A1B, Downgraded to Baa1; previously on 11/17/2008 Downgraded to A3

Current Underlying Rating: Downgraded to Ca; previously on 10/2/2008 Published at A3

Financial Guarantor: Ambac Assurance Corporation (Assigned Baa1 on 11/5/2008)

Cl. PO-1, Downgraded to Caa2; previously on 12/13/2005 Assigned Aaa

Cl. PO-2, Downgraded to Caa2; previously on 12/13/2005 Assigned Aaa

Cl. PO-3, Downgraded to Caa2; previously on 12/13/2005 Assigned Aaa

Cl. PO-4, Downgraded to Caa2; previously on 12/13/2005 Assigned Aaa

Cl. PO-B, Downgraded to Caa2; previously on 9/8/2008 Downgraded to Ba2

Cl. X-1, Downgraded to B1; previously on 12/13/2005 Assigned Aaa

Cl. X-2, Downgraded to B1; previously on 12/13/2005 Assigned Aaa

Cl. X-3, Downgraded to Ba3; previously on 12/13/2005 Assigned Aaa

Cl. X-4, Downgraded to Caa1; previously on 12/13/2005 Assigned Aaa

Cl. X-B, Downgraded to Ca; previously on 9/8/2008 Downgraded to Ba2

Cl. B-1, Downgraded to C; previously on 9/8/2008 Downgraded to Ba2

Cl. B-2, Downgraded to C; previously on 9/8/2008 Downgraded to B2

Cl. B-3, Downgraded to C; previously on 9/8/2008 Downgraded to B3 and Placed Under Review for Possible Downgrade

Cl. B-4, Downgraded to C; previously on 9/8/2008 Downgraded to Caa2

Cl. B-5, Downgraded to C; previously on 9/8/2008 Downgraded to Ca

Cl. B-6, Downgraded to C; previously on 9/8/2008 Downgraded to Ca

Cl. B-7, Downgraded to C; previously on 9/8/2008 Downgraded to Ca

Cl. B-8, Downgraded to C; previously on 9/8/2008 Downgraded to Ca

Cl. B-9, Downgraded to C; previously on 6/26/2008 Downgraded to Ca

Cl. B-10, Downgraded to C; previously on 6/26/2008 Downgraded to Ca

HarborView Mortgage Loan Trust 2005-2

Cl. 1-A, Downgraded to B3; previously on 6/14/2005 Assigned Aaa

Cl. 2-A-1A, Downgraded to Baa1; previously on 6/14/2005 Assigned Aaa

Cl. 2-A-1B, Downgraded to Ba3; previously on 9/8/2008 Downgraded to Aa2

Cl. 2-A-1C, Downgraded to Baa1; previously on 9/8/2008 Downgraded to Aa2

Current Underlying Rating: Downgraded to Caa1; previously on 9/8/2008 Published at Aa2

Financial Guarantor: Ambac Assurance Corporation (Assigned Baa1 on 11/5/2008)

Cl. 2-A-2, Downgraded to Caa1; previously on 9/8/2008 Downgraded to Aa2

Cl. PO, Downgraded to B3; previously on 6/14/2005 Assigned Aaa

Cl. X, Downgraded to Baa1; previously on 6/14/2005 Assigned Aaa

Cl. B-1, Downgraded to C; previously on 6/26/2008 Downgraded to Aa3

Cl. B-2, Downgraded to C; previously on 6/26/2008 Downgraded to Baa2

Cl. B-3, Downgraded to C; previously on 9/8/2008 Downgraded to Caa2

HarborView Mortgage Loan Trust 2005-3

Cl. 1-A, Downgraded to B3; previously on 6/16/2005 Assigned Aaa

Cl. 2-A1A, Downgraded to Baa1; previously on 6/16/2005 Assigned Aaa

Cl. 2-A1B, Downgraded to Ba3; previously on 6/16/2005 Assigned Aaa

Cl. 2-A1C, Downgraded to Caa1; previously on 6/16/2005 Assigned Aaa

Cl. 2-A2, Downgraded to Caa1; previously on 6/16/2005 Assigned Aaa

Cl. PO-1, Downgraded to B3; previously on 6/16/2005 Assigned Aaa

Cl. PO-2, Downgraded to B3; previously on 6/16/2005 Assigned Aaa

Cl. X-1, Downgraded to Baa1; previously on 6/16/2005 Assigned Aaa

Cl. X-2, Downgraded to Baa1; previously on 6/16/2005 Assigned Aaa

HarborView Mortgage Loan Trust 2005-5

Cl. 1-A-1A, Downgraded to Ba1; previously on 7/21/2005 Assigned Aaa

Cl. 1-A-1B, Downgraded to Caa1; previously on 7/21/2005 Assigned Aaa

Cl. 2-A-1A, Downgraded to Baa1; previously on 7/21/2005 Assigned Aaa

Cl. 2-A-1B, Downgraded to Ba3; previously on 7/21/2005 Assigned Aaa

Cl. 2-A-1C, Downgraded to Caa1; previously on 7/21/2005 Assigned Aaa

Cl. B-1, Downgraded to C; previously on 6/26/2008 Downgraded to Aa3

Cl. B-2, Downgraded to C; previously on 6/26/2008 Downgraded to Baa2

Cl. B-3, Downgraded to C; previously on 9/8/2008 Downgraded to Caa1

Cl. PO-1, Downgraded to B3; previously on 7/21/2005 Assigned Aaa

Cl. PO-2, Downgraded to B3; previously on 7/21/2005 Assigned Aaa

Cl. X-1, Downgraded to Baa1; previously on 7/21/2005 Assigned Aaa

Cl. X-2, Downgraded to Baa1; previously on 7/21/2005 Assigned Aaa

HarborView Mortgage Loan Trust 2005-7

Cl. 1-A1, Downgraded to B3; previously on 7/15/2005 Assigned Aaa

Cl. 1-A2, Downgraded to Ca; previously on 9/8/2008 Downgraded to Aa3

Cl. 1-PO, Downgraded to Caa1; previously on 7/15/2005 Assigned Aaa

Cl. 1-X, Downgraded to B3; previously on 7/15/2005 Assigned Aaa

Cl. 2-A1, Downgraded to Baa1; previously on 7/15/2005 Assigned Aaa

Cl. 2-A2B, Downgraded to Caa2; previously on 9/8/2008 Downgraded to Aa3

Cl. 2-PO, Downgraded to Caa1; previously on 7/15/2005 Assigned Aaa

Cl. 2-X, Downgraded to Baa1; previously on 7/15/2005 Assigned Aaa

Cl. 1-B1, Downgraded to C; previously on 6/26/2008 Downgraded to Baa1

Cl. 1-B2, Downgraded to C; previously on 9/8/2008 Downgraded to B2

Cl. 1-B3, Downgraded to C; previously on 6/26/2008 Downgraded to Caa2

Cl. 2-B1, Downgraded to C; previously on 6/26/2008 Downgraded to A3

Cl. 2-B2, Downgraded to C; previously on 9/8/2008 Downgraded to B3

Cl. 2-B3, Downgraded to C; previously on 9/8/2008 Downgraded to Ca

HarborView Mortgage Loan Trust 2005-8

Cl. 1-A1A, Downgraded to B3; previously on 8/24/2005 Assigned Aaa

Cl. 1-A1B, Downgraded to Baa1; previously on 11/17/2008 Downgraded to A2

Current Underlying Rating: Downgraded to Ca; previously on 10/2/2008 Published at A2

Financial Guarantor: Ambac Assurance Corporation (Assigned Baa1 on 11/5/2008)

Cl. 1-A2A, Downgraded to Baa3; previously on 8/24/2005 Assigned Aaa

Cl. 1-A2B, Downgraded to Caa1; previously on 8/24/2005 Assigned Aaa

Cl. 1-A2C, Downgraded to Baa1; previously on 11/17/2008 Downgraded to A2

Current Underlying Rating: Downgraded to Ca; previously on 10/2/2008 Published at A2

Financial Guarantor: Ambac Assurance Corporation (Assigned Baa1 on 11/5/2008)

Cl. 1-PO, Downgraded to Caa1; previously on 8/24/2005 Assigned Aaa

Cl. 1-X, Downgraded to Baa3; previously on 8/24/2005 Assigned Aaa

Cl. 2-A1A, Downgraded to B3; previously on 8/24/2005 Assigned Aaa

Cl. 2-A1B, Downgraded to Baa1; previously on 9/18/2008 Downgraded to Aa3

Current Underlying Rating: Downgraded to Ca; previously on 9/18/2008 Published at Aa3

Financial Guarantor: Ambac Assurance Corporation (Assigned Baa1 on 11/5/2008)

Cl. 2-A2, Downgraded to Caa1; previously on 9/8/2008 Downgraded to Aa2

Cl. 2-A2A, Downgraded to B3; previously on 8/24/2005 Assigned Aaa

Cl. 2-A2B, Downgraded to Baa1; previously on 9/18/2008 Downgraded to Aa3

Current Underlying Rating: Downgraded to Ca; previously on 9/18/2008 Published at Aa3

Financial Guarantor: Ambac Assurance Corporation (Assigned Baa1 on 11/5/2008)

Cl. 2-A3, Downgraded to Caa1; previously on 9/8/2008 Downgraded to Aa2

Cl. 2-PO1, Downgraded to Caa1; previously on 8/24/2005 Assigned Aaa

Cl. 2-PO2, Downgraded to Caa1; previously on 8/24/2005 Assigned Aaa

Cl. 2-POB, Downgraded to C; previously on 9/8/2008 Downgraded to Baa1

Cl. 2-XA1, Downgraded to B3; previously on 8/24/2005 Assigned Aaa

Cl. 2-XA2, Downgraded to B3; previously on 8/24/2005 Assigned Aaa

Cl. 2-XB, Downgraded to C; previously on 9/8/2008 Downgraded to Baa1

Cl. 1-B1, Downgraded to C; previously on 9/8/2008 Downgraded to Baa1

Cl. 1-B2, Downgraded to C; previously on 9/8/2008 Downgraded to Ba2

Cl. 1-B3, Downgraded to C; previously on 9/8/2008 Downgraded to B2

Cl. 1-B4, Downgraded to C; previously on 9/8/2008 Downgraded to B3 and Placed Under Review for Possible Downgrade

Cl. 1-B5, Downgraded to C; previously on 9/8/2008 Downgraded to Caa1

Cl. 1-B6, Downgraded to C; previously on 9/8/2008 Downgraded to Caa3

Cl. 1-B7, Downgraded to C; previously on 9/8/2008 Downgraded to Ca

Cl. 1-B8, Downgraded to C; previously on 9/8/2008 Downgraded to Ca

Cl. 1-B9, Downgraded to C; previously on 9/8/2008 Downgraded to Ca

Cl. 2-B1, Downgraded to C; previously on 9/8/2008 Downgraded to Baa1

Cl. 2-B2, Downgraded to C; previously on 9/8/2008 Downgraded to B3

Cl. 2-B3, Downgraded to C; previously on 9/8/2008 Downgraded to Ca

Cl. 2-B4, Downgraded to C; previously on 9/8/2008 Downgraded to Ca

HarborView Mortgage Loan Trust 2005-9

Cl. B-5, Downgraded to Baa1; previously on 9/30/2005 Assigned A2

Cl. B-6, Downgraded to Baa3; previously on 9/30/2005 Assigned A3

Cl. B-7, Downgraded to Ba1; previously on 9/30/2005 Assigned Baa1

Cl. B-8, Downgraded to Ba2; previously on 9/30/2005 Assigned Baa2

Cl. B-9, Downgraded to Ba3; previously on 9/30/2005 Assigned Baa3

HarborView Mortgage Loan Trust 2006-1

Cl. 1-A1A, Downgraded to Caa1; previously on 2/27/2006 Assigned Aaa

Cl. 1-A1B, Aa3; previously on 11/23/2008 Downgraded to Aa3

Current Underlying Rating: Downgraded to Ca; previously on 9/8/2008 Published at Ba3

Financial Guarantor: Financial Security Assurance Inc. (Assigned Aa3 on 11/21/2008)

Cl. 2-A1A, Downgraded to B3; previously on 2/27/2006 Assigned Aaa

Cl. 2-A1B, Downgraded to Ca; previously on 2/27/2006 Assigned Aaa

Cl. 2-A1C, Aa3; previously on 11/23/2008 Downgraded to Aa3

Current Underlying Rating: Downgraded to Ca; previously on 9/8/2008 Published at Ba3

Financial Guarantor: Financial Security Assurance Inc. (Assigned Aa3 on 11/21/2008)

Cl. PO-1, Downgraded to Caa3; previously on 2/27/2006 Assigned Aaa

Cl. PO-2A1B, Downgraded to Caa3; previously on 2/27/2006 Assigned Aaa

Cl. X-1, Downgraded to Caa1; previously on 2/27/2006 Assigned Aaa

Cl. X-2A1B, Downgraded to Ca; previously on 2/27/2006 Assigned Aaa

Cl. B-1, Downgraded to C; previously on 9/8/2008 Downgraded to B1 and Placed Under Review for Possible Downgrade

Cl. B-2, Downgraded to C; previously on 9/8/2008 Downgraded to B2 and Placed Under Review for Possible Downgrade

Cl. B-3, Downgraded to C; previously on 9/8/2008 Downgraded to Caa3

Cl. B-4, Downgraded to C; previously on 9/8/2008 Downgraded to Ca

Cl. B-5, Downgraded to C; previously on 9/8/2008 Downgraded to Ca

Cl. B-6, Downgraded to C; previously on 9/8/2008 Downgraded to Ca

Cl. B-7, Downgraded to C; previously on 6/26/2008 Downgraded to Ca

Cl. B-8, Downgraded to C; previously on 6/26/2008 Downgraded to Ca

Cl. B-9, Downgraded to C; previously on 6/26/2008 Downgraded to Ca

HarborView Mortgage Loan Trust 2006-10

Cl. 1A-1A, Downgraded to Caa1; previously on 11/21/2006 Assigned Aaa

Cl. 1A-1B, Downgraded to Aa3; previously on 11/23/2008 Downgraded to Aa1

Current Underlying Rating: Downgraded to Ca; previously on 10/2/2008 Published at Aa1

Financial Guarantor: Financial Security Assurance Inc. (Assigned Aa3 on 11/21/2008)

Cl. 2A-1A, Downgraded to Ba3; previously on 11/21/2006 Assigned Aaa

Cl. 2A-1B, Downgraded to Caa3; previously on 11/21/2006 Assigned Aaa

Cl. 2A-1C, Downgraded to Aa3; previously on 11/23/2008 Downgraded to Aa1

Current Underlying Rating: Downgraded to Ca; previously on 10/2/2008 Published at Aa1

Financial Guarantor: Financial Security Assurance Inc. (Assigned Aa3 on 11/21/2008)

Cl. B-1, Downgraded to C; previously on 9/8/2008 Downgraded to Baa1

Cl. B-2, Downgraded to C; previously on 9/8/2008 Downgraded to Ba3

Cl. B-3, Downgraded to C; previously on 9/8/2008 Downgraded to B1 and Placed Under Review for Possible Downgrade

Cl. B-4, Downgraded to C; previously on 9/8/2008 Downgraded to B2 and Placed Under Review for Possible Downgrade

Cl. B-5, Downgraded to C; previously on 9/8/2008 Downgraded to B3 and Placed Under Review for Possible Downgrade

Cl. B-6, Downgraded to C; previously on 9/8/2008 Downgraded to Caa3

Cl. B-7, Downgraded to C; previously on 6/26/2008 Downgraded to Ca

HarborView Mortgage Loan Trust 2006-12

Cl. 1A-1A, Downgraded to Caa3; previously on 9/8/2008 Downgraded to Aa2

Cl. 2A-1A1, Downgraded to B2; previously on 1/5/2007 Assigned Aaa

Cl. 2A-1A2, Downgraded to Caa1; previously on 1/5/2007 Assigned Aaa

Cl. 2A-1A3, Downgraded to Caa1; previously on 1/5/2007 Assigned Aaa

Cl. 2A-1B, Aa3; previously on 11/23/2008 Downgraded to Aa3

Current Underlying Rating: Downgraded to Ca; previously on 10/2/2008 Published at Aa3

Financial Guarantor: Financial Security Assurance Inc. (Assigned Aa3 on 11/21/2008)

Cl. 2A-2A, Downgraded to B1; previously on 1/5/2007 Assigned Aaa

Cl. 2A-2B, Downgraded to Ca; previously on 1/5/2007 Assigned Aaa

Cl. 2A-2C, Aa3; previously on 11/23/2008 Downgraded to Aa3

Current Underlying Rating: Downgraded to Ca; previously on 10/2/2008 Published at Aa3

Financial Guarantor: Financial Security Assurance Inc. (Assigned Aa3 on 11/21/2008)

Cl. B-1, Downgraded to C; previously on 9/8/2008 Downgraded to Baa3

Cl. B-2, Downgraded to C; previously on 9/8/2008 Downgraded to B1

Cl. B-3, Downgraded to C; previously on 9/8/2008 Downgraded to B2 and Placed Under Review for Possible Downgrade

Cl. B-4, Downgraded to C; previously on 9/8/2008 Downgraded to B3 and Placed Under Review for Possible Downgrade

Cl. B-5, Downgraded to C; previously on 9/8/2008 Downgraded to Caa2

Cl. B-6, Downgraded to C; previously on 9/8/2008 Downgraded to Ca

Cl. B-7, Downgraded to C; previously on 6/26/2008 Downgraded to Ca

HarborView Mortgage Loan Trust 2006-4

Cl. 1-A1A, Downgraded to Caa2; previously on 5/8/2006 Assigned Aaa

Cl. 1-A1B, Downgraded to Caa1; previously on 9/8/2008 Downgraded to Baa2

Current Underlying Rating: Downgraded to Ca; previously on 9/8/2008 Published at Baa2

Financial Guarantor: Syncora Guarantee Inc. (Assigned Caa1, Outlook Uncertain on 10/24/2008)

Cl. 1-A2A, Downgraded to Caa3; previously on 5/8/2006 Assigned Aaa

Cl. 1-A2B, Downgraded to Caa1; previously on 9/8/2008 Downgraded to Baa2

Current Underlying Rating: Downgraded to Ca; previously on 9/8/2008 Published at Baa2

Financial Guarantor: Syncora Guarantee Inc. (Assigned Caa1, Outlook Uncertain on 10/24/2008)

Cl. 2-A1A, Downgraded to Caa2; previously on 5/8/2006 Assigned Aaa

Cl. 2-A1B, Downgraded to Ca; previously on 5/8/2006 Assigned Aaa

Cl. 2-A1C, Downgraded to Caa1; previously on 9/8/2008 Downgraded to Baa2

Current Underlying Rating: Downgraded to Ca; previously on 9/8/2008 Published at Baa2

Financial Guarantor: Syncora Guarantee Inc. (Assigned Caa1, Outlook Uncertain on 10/24/2008)

Cl. 3-A1A, Downgraded to B3; previously on 5/8/2006 Assigned Aaa

Cl. 3-A1B, Downgraded to Ca; previously on 5/8/2006 Assigned Aaa

Cl. 3-A1C, Downgraded to Caa1; previously on 9/8/2008 Downgraded to Baa2

Current Underlying Rating: Downgraded to Ca; previously on 9/8/2008 Published at Baa2

Financial Guarantor: Syncora Guarantee Inc. (Assigned Caa1, Outlook Uncertain on 10/24/2008)

Cl. PO-1, Downgraded to Caa3; previously on 5/8/2006 Assigned Aaa

Cl. PO-3A, Downgraded to Caa3; previously on 5/8/2006 Assigned Aaa

Cl. PO-B, Downgraded to Caa3; previously on 9/8/2008 Downgraded to B1

Cl. X-1, Downgraded to Caa2; previously on 5/8/2006 Assigned Aaa

Cl. X-3A, Downgraded to B3; previously on 5/8/2006 Assigned Aaa

Cl. X-B, Downgraded to C; previously on 9/8/2008 Downgraded to B1

Cl. B-1, Downgraded to C; previously on 9/8/2008 Downgraded to B1

Cl. B-2, Downgraded to C; previously on 9/8/2008 Downgraded to B3 and Placed Under Review for Possible Downgrade

Cl. B-3, Downgraded to C; previously on 9/8/2008 Downgraded to Caa3

Cl. B-4, Downgraded to C; previously on 9/8/2008 Downgraded to Ca

Cl. B-5, Downgraded to C; previously on 9/8/2008 Downgraded to Ca

Cl. B-6, Downgraded to C; previously on 9/8/2008 Downgraded to Ca

Cl. B-7, Downgraded to C; previously on 9/8/2008 Downgraded to Ca

Cl. B-8, Downgraded to C; previously on 6/26/2008 Downgraded to Ca

HarborView Mortgage Loan Trust 2006-5

Cl. 1-A1A, Downgraded to Caa3; previously on 7/13/2006 Assigned Aaa

Cl. 1-A1B, Downgraded to Caa1, previously on 10/24/2008 Downgraded to B3

Cl. 2-A1A, Downgraded to Caa1; previously on 7/13/2006 Assigned Aaa

Cl. 2-A1B, Downgraded to Ca; previously on 7/13/2006 Assigned Aaa

Cl. 2-A1C, Downgraded to Ca; previously on 9/8/2008 Downgraded to B3

Cl. PO-1, Downgraded to Ca; previously on 7/13/2006 Assigned Aaa

Cl. PO-2, Downgraded to Ca; previously on 7/13/2006 Assigned Aaa

Cl. PO-B, Downgraded to Ca; previously on 9/8/2008 Downgraded to Caa1

Cl. X-1, Downgraded to Caa3; previously on 7/13/2006 Assigned Aaa

Cl. X-2, Downgraded to Caa1; previously on 7/13/2006 Assigned Aaa

Cl. X-B, Downgraded to C; previously on 9/8/2008 Downgraded to Caa1

Cl. B-1, Downgraded to C; previously on 9/8/2008 Downgraded to Caa1

Cl. B-2, Downgraded to C; previously on 9/8/2008 Downgraded to Ca

Cl. B-3, Downgraded to C; previously on 9/8/2008 Downgraded to Ca

Cl. B-4, Downgraded to C; previously on 6/26/2008 Downgraded to Ca

Cl. B-5, Downgraded to C; previously on 6/26/2008 Downgraded to Ca

Cl. B-6, Downgraded to C; previously on 6/26/2008 Downgraded to Ca

Cl. B-7, Downgraded to C; previously on 6/26/2008 Downgraded to Ca

HarborView Mortgage Loan Trust 2006-7

Cl. 1A, Downgraded to Caa3; previously on 9/8/2008 Downgraded to A1

Cl. 2A-1A, Downgraded to Caa1; previously on 8/23/2006 Assigned Aaa

Cl. 2A-1B, Downgraded to Ca; previously on 8/23/2006 Assigned Aaa

Cl. 2A-1C, Downgraded to Baa1; previously on 11/17/2008 Downgraded to A2

Current Underlying Rating: Downgraded to Ca; previously on 10/2/2008 Published at A2

Financial Guarantor: Ambac Assurance Corporation (Assigned Baa1 on 11/5/2008)

Cl. B-1, Downgraded to C; previously on 9/8/2008 Downgraded to Ba3

Cl. B-2, Downgraded to C; previously on 9/8/2008 Downgraded to B2 and Placed Under Review for Possible Downgrade

Cl. B-3, Downgraded to C; previously on 9/8/2008 Downgraded to B3 and Placed Under Review for Possible Downgrade

Cl. B-4, Downgraded to C; previously on 9/8/2008 Downgraded to B3 and remains on Review for Possible Downgrade

Cl. B-5, Downgraded to C; previously on 9/8/2008 Downgraded to Caa1

Cl. B-6, Downgraded to C; previously on 9/8/2008 Downgraded to Ca

Cl. B-7, Downgraded to C; previously on 6/26/2008 Downgraded to Ca

HarborView Mortgage Loan Trust 2006-8

Cl. 1A-1, Downgraded to Caa2; previously on 9/8/2006 Assigned Aaa

Cl. 2A-1A, Downgraded to Ba3; previously on 9/8/2006 Assigned Aaa

Cl. 2A-1B, Downgraded to Caa2; previously on 9/8/2006 Assigned Aaa

Cl. 2A-1C, Downgraded to Ca; previously on 9/8/2006 Assigned Aaa

Cl. B-1, Downgraded to C; previously on 9/8/2008 Downgraded to Aa3

Cl. B-2, Downgraded to C; previously on 9/8/2008 Downgraded to Ba1

Cl. B-3, Downgraded to C; previously on 9/8/2008 Downgraded to Ba3

Cl. B-4, Downgraded to C; previously on 9/8/2008 Downgraded to B2 and Placed Under Review for Possible Downgrade

Cl. B-5, Downgraded to C; previously on 9/8/2008 Downgraded to B3 and Placed Under Review for Possible Downgrade

Cl. B-6, Downgraded to C; previously on 9/8/2008 Downgraded to Caa1

Cl. B-7, Downgraded to C; previously on 9/8/2008 Downgraded to Ca

Cl. B-8, Downgraded to C; previously on 6/26/2008 Downgraded to Ca

HarborView Mortgage Loan Trust 2006-9

Cl. 1A-1A, Downgraded to Caa3; previously on 9/8/2008 Downgraded to Aa3

Cl. 2A-1A, Downgraded to B3; previously on 10/26/2006 Assigned Aaa

Cl. 2A-1B1, Downgraded to Ca; previously on 10/26/2006 Assigned Aaa

Cl. 2A-1B2, Downgraded to Ca; previously on 10/26/2006 Assigned Aaa

Cl. 2A-1C1, Downgraded to Ca; previously on 9/8/2008 Downgraded to A1

Cl. 2A-1C2, Downgraded to Baa1; previously on 11/17/2008 Downgraded to A1

Current Underlying Rating: Downgraded to Ca; previously on 10/2/2008 Published at A1

Financial Guarantor: Ambac Assurance Corporation (Assigned Baa1 on 11/5/2008)

Cl. B-1, Downgraded to C; previously on 9/8/2008 Downgraded to Ba2

Cl. B-2, Downgraded to C; previously on 9/8/2008 Downgraded to B1 and Placed Under Review for Possible Downgrade

Cl. B-3, Downgraded to C; previously on 9/8/2008 Downgraded to B2 and Placed Under Review for Possible Downgrade

Cl. B-4, Downgraded to C; previously on 9/8/2008 Downgraded to B3 and remains on Review for Possible Downgrade

Cl. B-5, Downgraded to C; previously on 9/8/2008 Downgraded to Ca

Cl. B-6, Downgraded to C; previously on 9/8/2008 Downgraded to Ca

HarborView Mortgage Loan Trust 2006-BU1

Cl. 1A-1A, Downgraded to B3; previously on 4/7/2006 Assigned Aaa

Cl. 1A-1B, Downgraded to Caa1; previously on 4/7/2006 Assigned Aaa

Current Underlying Rating: Downgraded to Ca; previously on 10/2/2008 Published at Aaa

Financial Guarantor: Syncora Guarantee Inc. (Assigned Caa1, Outlook Uncertain on 10/24/2008)

Cl. 2A-1A, Downgraded to Baa3; previously on 4/7/2006 Assigned Aaa

Cl. 2A-1B, Downgraded to Caa1; previously on 4/7/2006 Assigned Aaa

Cl. 2A-1C, Downgraded to Caa1; previously on 4/7/2006 Assigned Aaa

Current Underlying Rating: Downgraded to Ca; previously on 10/2/2008 Published at Aaa

Financial Guarantor: Syncora Guarantee Inc. (Assigned Caa1, Outlook Uncertain on 10/24/2008)

Cl. M-1, Downgraded to C; previously on 4/7/2006 Assigned Aa1

Cl. M-2, Downgraded to C; previously on 9/8/2008 Downgraded to Aa2

Cl. M-3, Downgraded to C; previously on 9/8/2008 Downgraded to Aa3

Cl. M-4, Downgraded to C; previously on 9/8/2008 Downgraded to Ba2

Cl. M-5, Downgraded to C; previously on 9/8/2008 Downgraded to B2

Cl. M-6, Downgraded to C; previously on 9/8/2008 Downgraded to B3 and Placed Under Review for Possible Downgrade

Cl. M-7, Downgraded to C; previously on 9/8/2008 Downgraded to B3 and Placed Under Review for Possible Downgrade

Cl. M-8, Downgraded to C; previously on 9/8/2008 Downgraded to B3 and Placed Under Review for Possible Downgrade

Cl. M-9, Downgraded to C; previously on 6/26/2008 Downgraded to Ca

HarborView Mortgage Loan Trust 2006-CB1

Cl. 2-A1A, Downgraded to Caa1; previously on 3/14/2006 Assigned Aaa

Cl. 2-A1B, Downgraded to Caa1; previously on 3/14/2006 Assigned Aaa

Cl. 2-A1C, Downgraded to Caa2; previously on 3/14/2006 Assigned Aaa

Cl. 2-A2, Downgraded to Caa1; previously on 9/8/2008 Downgraded to Baa2

Current Underlying Rating: Downgraded to Ca; previously on 9/8/2008 Published at Baa2

Financial Guarantor: Syncora Guarantee Inc. (Assigned Caa1, Outlook Uncertain on 10/24/2008)

Cl. 2-PO, Downgraded to Ca; previously on 9/8/2008 Downgraded to B2

Cl. 2-X, Downgraded to C; previously on 9/8/2008 Downgraded to B2

Cl. 2-B1, Downgraded to C; previously on 9/8/2008 Downgraded to B2

Cl. 2-B2, Downgraded to C; previously on 6/26/2008 Downgraded to Ca

Cl. 2-B3, Downgraded to C; previously on 6/26/2008 Downgraded to Ca

HarborView Mortgage Loan Trust 2006-SB1

Cl. A-1A, Downgraded to Caa2; previously on 11/10/2006 Assigned Aaa

Cl. A-1B, Downgraded to Ca; previously on 9/8/2008 Downgraded to Baa3

Cl. M-1, Downgraded to C; previously on 9/8/2008 Downgraded to B3

Cl. M-2, Downgraded to C; previously on 9/8/2008 Downgraded to B3 and Placed Under Review for Possible Downgrade

Cl. M-3, Downgraded to C; previously on 9/8/2008 Downgraded to Caa2

Cl. M-4, Downgraded to C; previously on 9/8/2008 Downgraded to Ca

HarborView Mortgage Loan Trust 2007-1

Cl. 1A-1A, Downgraded to Ba1; previously on 3/28/2007 Assigned Aaa

Cl. 1A-1B, Downgraded to Aa3; previously on 11/23/2008 Downgraded to Aa1

Current Underlying Rating: Downgraded to Ca; previously on 10/2/2008 Published at Aa1

Financial Guarantor: Financial Security Assurance Inc. (Assigned Aa3 on 11/21/2008)

Cl. 2A-1A, Downgraded to Ba1; previously on 3/28/2007 Assigned Aaa

Cl. 2A-1B, Downgraded to Caa1; previously on 3/28/2007 Assigned Aaa

Cl. 2A-1C1, Downgraded to Aa3; previously on 11/23/2008 Downgraded to Aa1

Current Underlying Rating: Downgraded to Ca; previously on 10/2/2008 Published at Aa1

Financial Guarantor: Financial Security Assurance Inc. (Assigned Aa3 on 11/21/2008)

Cl. 2A-1C2, Downgraded to Ca; previously on 9/8/2008 Downgraded to Aa1

Cl. B-1, Downgraded to C; previously on 9/8/2008 Downgraded to A3

Cl. B-2, Downgraded to C; previously on 9/8/2008 Downgraded to B1

Cl. B-3, Downgraded to C; previously on 9/8/2008 Downgraded to B2 and Placed Under Review for Possible Downgrade

Cl. B-4, Downgraded to C; previously on 9/8/2008 Downgraded to B3 and Placed Under Review for Possible Downgrade

Cl. B-5, Downgraded to C; previously on 9/8/2008 Downgraded to B3 and Placed Under Review for Possible Downgrade

Cl. B-6, Downgraded to C; previously on 9/8/2008 Downgraded to Ca

Cl. B-7, Downgraded to C; previously on 9/8/2008 Downgraded to Ca

HarborView Mortgage Loan Trust 2007-2

Cl. 1A-1A, Downgraded to Caa2; previously on 9/8/2008 Downgraded to Baa3

Cl. 2A-1A, Downgraded to B2; previously on 4/9/2007 Assigned Aaa

Cl. 2A-1B, Downgraded to Caa3; previously on 4/9/2007 Assigned Aaa

Cl. 2A-1C, Baa1; previously on 11/17/2008 Downgraded to Baa1

Current Underlying Rating: Downgraded to Ca; previously on 9/8/2008 Published at Ba1

Financial Guarantor: Ambac Assurance Corporation (Assigned Baa1 on 11/5/2008)

Cl. B-1, Downgraded to C; previously on 9/8/2008 Downgraded to B1 and Placed Under Review for Possible Downgrade

Cl. B-2, Downgraded to C; previously on 9/8/2008 Downgraded to B3 and Placed Under Review for Possible Downgrade

Cl. B-3, Downgraded to C; previously on 9/8/2008 Downgraded to B3 and remains on Review for Possible Downgrade

Cl. B-4, Downgraded to C; previously on 9/8/2008 Downgraded to Caa1

Cl. B-5, Downgraded to C; previously on 9/8/2008 Downgraded to Caa2

Cl. B-6, Downgraded to C; previously on 9/8/2008 Downgraded to Ca

Cl. B-7, Downgraded to C; previously on 6/26/2008 Downgraded to Ca

Cl. B-8, Downgraded to C; previously on 6/26/2008 Downgraded to Ca

HarborView Mortgage Loan Trust 2007-3

Cl. 1A-1A, Downgraded to Caa2; previously on 5/8/2007 Assigned Aaa

Cl. 2A-1A, Downgraded to Ba2; previously on 5/8/2007 Assigned Aaa

Cl. 2A-1B, Downgraded to Caa2; previously on 5/8/2007 Assigned Aaa

Cl. 2A-1C, Downgraded to Ca; previously on 9/8/2008 Downgraded to Aa1

Cl. B-1, Downgraded to C; previously on 9/8/2008 Downgraded to Ba2

Cl. B-2, Downgraded to C; previously on 9/8/2008 Downgraded to B1 and Placed Under Review for Possible Downgrade

Cl. B-3, Downgraded to C; previously on 9/8/2008 Downgraded to B2 and Placed Under Review for Possible Downgrade

Cl. B-4, Downgraded to C; previously on 9/8/2008 Downgraded to B3 and Placed Under Review for Possible Downgrade

Cl. B-5, Downgraded to C; previously on 9/8/2008 Downgraded to B3 and Placed Under Review for Possible Downgrade

Cl. B-6, Downgraded to C; previously on 9/8/2008 Downgraded to Caa1

Cl. B-7, Downgraded to C; previously on 9/8/2008 Downgraded to Caa3

Cl. B-8, Downgraded to C; previously on 9/8/2008 Downgraded to Ca

HarborView Mortgage Loan Trust 2007-4

Cl. 1A-1, Downgraded to Caa2; previously on 9/8/2008 Downgraded to Baa3

Cl. 2A-1, Downgraded to Ba3; previously on 6/19/2007 Assigned Aaa

Cl. 2A-2, Downgraded to Caa2; previously on 6/19/2007 Assigned Aaa

Cl. 2A-3, Downgraded to Ca; previously on 9/8/2008 Downgraded to Ba1

Cl. B-1, Downgraded to C; previously on 9/8/2008 Downgraded to B2 and Placed Under Review for Possible Downgrade

Cl. B-2, Downgraded to C; previously on 9/8/2008 Downgraded to B3 and Placed Under Review for Possible Downgrade

Cl. B-3, Downgraded to C; previously on 9/8/2008 Downgraded to Caa1

Cl. B-4, Downgraded to C; previously on 9/8/2008 Downgraded to Ca

Cl. B-5, Downgraded to C; previously on 9/8/2008 Downgraded to Ca

Cl. B-6, Downgraded to C; previously on 9/8/2008 Downgraded to Ca

HarborView Mortgage Loan Trust 2007-5

Cl. A-1A, Downgraded to Ba1; previously on 7/18/2007 Assigned Aaa

Cl. A-1B, Downgraded to Caa3; previously on 7/18/2007 Assigned Aaa

Cl. A-1C, Downgraded to Ca; previously on 9/8/2008 Downgraded to Baa3

Cl. B-1, Downgraded to C; previously on 9/8/2008 Downgraded to B2

Cl. B-2, Downgraded to C; previously on 9/8/2008 Downgraded to B3

Cl. B-3, Downgraded to C; previously on 9/8/2008 Downgraded to B3 and Placed Under Review for Possible Downgrade

Cl. B-4, Downgraded to C; previously on 9/8/2008 Downgraded to B3 and Placed Under Review for Possible Downgrade

Cl. B-5, Downgraded to C; previously on 9/8/2008 Downgraded to Caa1

Cl. B-6, Downgraded to C; previously on 9/8/2008 Downgraded to Caa2

Cl. B-7, Downgraded to C; previously on 9/8/2008 Downgraded to Ca

Cl. B-8, Downgraded to C; previously on 6/26/2008 Downgraded to Ca

HarborView Mortgage Loan Trust 2007-6

Cl. 1A-1A, Downgraded to Caa1; previously on 8/7/2007 Assigned Aaa

Cl. 1A-1B, Downgraded to Ca; previously on 9/8/2008 Downgraded to Aa1

Cl. 2A-1A, Downgraded to Ba1; previously on 8/7/2007 Assigned Aaa

Cl. 2A-1B, Downgraded to B3; previously on 8/7/2007 Assigned Aaa

Cl. 2A-1C, Downgraded to Ca; previously on 9/8/2008 Downgraded to Aa1

Cl. B-1, Downgraded to C; previously on 9/8/2008 Downgraded to Aa3

Cl. B-2, Downgraded to C; previously on 9/8/2008 Downgraded to Baa3

Cl. B-3, Downgraded to C; previously on 9/8/2008 Downgraded to Ba3

Cl. B-4, Downgraded to C; previously on 9/8/2008 Downgraded to B1 and Placed Under Review for Possible Downgrade

Cl. B-5, Downgraded to C; previously on 9/8/2008 Downgraded to B2 and Placed Under Review for Possible Downgrade

Cl. B-6, Downgraded to C; previously on 9/8/2008 Downgraded to B3 and Placed Under Review for Possible Downgrade

Cl. B-7, Downgraded to C; previously on 9/8/2008 Downgraded to B3 and Placed Under Review for Possible Downgrade

Cl. B-8, Downgraded to C; previously on 9/8/2008 Downgraded to Ca

Cl. B-9, Downgraded to C; previously on 6/26/2008 Downgraded to Ca

HarborView Mortgage Loan Trust 2007-7

Cl. 1A-1A, Downgraded to B3; previously on 10/18/2007 Assigned Aaa

Cl. 2A-1A, Downgraded to Baa3; previously on 10/18/2007 Assigned Aaa

Cl. 2A-1B, Downgraded to B3; previously on 10/18/2007 Assigned Aaa

Cl. 2A-1C, Downgraded to Ca; previously on 10/18/2007 Assigned Aaa

Cl. B-1, Downgraded to C; previously on 10/18/2007 Assigned Aa1

Cl. B-8, Downgraded to C; previously on 9/8/2008 Downgraded to B2

The ratings on the notes were assigned by evaluating factors determined to be applicable to the credit profile of the notes, such as i) the nature, sufficiency, and quality of historical performance information regarding the asset class as well as for the transaction sponsor, ii) an analysis of the collateral, iii) an analysis of the policies, procedures and alignment of interests of the key parties to the transaction, most notably the originator and the servicer, iv) an analysis of the transaction's allocation of collateral cashflow and capital structure, v) an analysis of the transaction's governance and legal structure, and (vi) a comparison of these attributes against those of other similar transactions.

Other methodologies and factors that may have been considered in the process of rating this issue can also be found at www.moodys.com in the Credit Policy & Methodologies directory.

A list of these actions including CUSIP identifiers may be found at:

Excel: http://www.moodys.com/cust/getdocumentByNotesDocId.asp?criteria=PBS_SF157515

For more information please see www.moodys.com.

A list of updated estimated pool losses is being updated twice weekly and may be found at:

Excel: http://www.moodys.com/cust/getdocumentByNotesDocId.asp?criteria=PBS_SF154891

For more information please see www.moodys.com.

New York
John Park
Managing Director
Structured Finance Group
Moody's Investors Service
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653

New York
Gerard Mazi
Senior Associate
Structured Finance Group
Moody's Investors Service
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653

Moody's Takes Action on Certain HarborView Option ARM deals
No Related Data.
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