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Fitch Takes Rating Actions on 3 CWMBS Securitizations.

Business Editors

NEW YORK--(BUSINESS WIRE)--Jan. 26, 2004

Fitch Ratings has taken rating actions on the following CWMBS (Countrywide Home Loans), Inc. residential mortgage-backed certificates:

CWMBS (Countrywide Home Loans, Inc.) Mortgage Pass-Through Certificates, Series 1998-12 (ALT 1998-4)

-- Class A affirmed at 'AAA';

-- Class M affirmed at 'AAA';

-- Class B1 affirmed at 'AAA';

-- Class B2 affirmed at 'A';

-- Class B3 affirmed at 'BB';

-- Class B4 rated 'B' remains on Rating Watch Negative.

CWMBS (Countrywide Home Loans, Inc.) Mortgage Pass-Through Certificates, Series 2001-14 (ALT 2001-7)

-- Class A affirmed at 'AAA';

-- Class M upgraded to 'AAA' from 'AA+';

-- Class B1 upgraded to 'AA' from 'A';

-- Class B2, affirmed at 'BBB', is removed from Rating Watch

Negative;

-- Class B3 rated 'B' remains on Rating Watch Negative;

-- Class B4 remains at 'C'.

CWMBS (Countrywide Home Loans, Inc.) Mortgage Pass-Through Certificates, Series 2001-17 (ALT 2001-8)

-- Class A affirmed at 'AAA';

-- Class M affirmed at 'AAA';

-- Class B1 upgraded to 'AAA' from 'AA';

-- Class B2 affirmed at 'BBB';

-- Class B3 affirmed at 'BB';

-- Class B4 rated 'B' remains on Rating Watch Negative.

These actions are taken due to the level of losses incurred and the delinquencies in relation to the applicable credit support levels as of the December 2003 distribution. The affirmations on the above classes reflect credit enhancement consistent with future loss expectations.

Further information regarding current delinquency, loss and credit enhancement statistics is available on the Fitch Ratings web site at 'www.fitchratings.com'.
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Publication:Business Wire
Geographic Code:1USA
Date:Jan 26, 2004
Words:240
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