According to a report recently published by Moody's Investors Service, issuance for the first quarter in the manufactured housing sector has fallen 37% in comparison to what was seen in the first quarter of 1999. With big name players such as Conseco Inc. looking to sell its subsidiary business Conseco Finance, (formerly Green Tree Tree Financial Corp.) and Associates First Capital exiting the sector, the question on the minds of many market participants is what we will be seeing in MH going forward.

However, a spokesman for Standard & Poor's denounced Moody's findings.

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