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Amendment - Fitch Rates $697.8MM HSI Asset Securitization Corporation Trust 2007-HE2.


NEW YORK -- This is an amendment for a press release issued earlier today. It amends the Class M-10 rating.

Fitch rates HSI (Hue Saturation Intensity) A color space similar to HSB. See HSB.  Asset Securitization Corporation Trust 2007-HE2 as follows:

--$539.2 million classes I-A, II-A-1 through II-A-4 (senior certificates) 'AAA';

--$57.3 million classes M-1 and M-2, 'AA+';

--$16.5 million class M-3 'AA';

--$14.3 million class M-4 'AA-';

--$14.0 million class M-5 'A+';

--$11.8 million class M-6 'A';

--$11.8 million class M-7 'A-';

--$10.7 million class M-8 'BBB+';

--$8.6 million class M-9 'BBB';

--$13.6 million class M-10 'BBB-'.

The 'AAA' rating on the senior certificates reflects the 24.70% total credit enhancement provided by 4.15% class M-1, the 3.85% class M-2, the 2.30% class M-3, the 2.0% class M-4, the 1.95% class M-5, the 1.65% class M-6, the 1.65% class M-7, the 1.50% class M-8, the 1.20% class M-9, the 1.90% class M-10 and the 2.55% initial and target over-collateralization (OC). All certificates have the benefit of monthly excess cash flow to absorb losses. In addition, the ratings reflect the quality of the loans, the integrity of the transaction's legal structure as well as the capabilities of Wells Fargo Bank, N.A and Countrywide Home Loan Services LP as servicers and Wells Fargo Bank, N.A. as Master servicer. Deutsche Bank National Trust Company is the trustee.

As of the statistical cut-off date, the collateral pool consists of 3,680 fixed and adjustable rate loans and totals $743,291,188. Approximately 17.06% of the mortgage loans are fixed-rate, 82.94% are adjustable-rate and 17.04% are interest-only rate mortgage loans. Approximately 1.54% of the mortgage loans are secured by a second lien. The weighted average original loan-to-value (OLTV OLTV Original Loan-to-Value ratio
OLTV on Line Television
) ratio is 81.59%. The average outstanding principal balance is approximately $201,981, the weighted average coupon Weighted average Coupon

The weighted average of the gross interest rates of mortgages underlying a pool as of the pool issue date; the balance of each mortgage is used as the weighting factor.
 (WAC WAC (Women's Army Corps), U.S. army organization created (1942) during World War II to enlist women as auxiliaries for noncombatant duty in the U.S. army. Before 1943 it was known as the Women's Auxiliary Army Corps (WAAC). Its first director was Oveta Culp Hobby. ) is 8.018% and the weighted average remaining term to maturity (WAM WAM - Intermediate language for compiled Prolog, used by the Warren Abstract Machine. "An Abstract Prolog Instruction Set", D.H.D. Warren, TR 309, SRI 1983. ) is 357 months. The weighted average credit score is 624. The loans are geographically concentrated in California (20.44%), Florida (11.51%) and New Jersey (6.25%).

For federal income tax purposes, multiple real estate mortgage investment conduit Real Estate Mortgage Investment Conduit (REMIC)

A pass-through tax entity that can hold mortgages secured by any type of real property and can issue multiple classes of ownership interests to investors in the form of pass-through certificates, bonds, or other legal forms.
 (REMIC) elections will be made with respect to the trust estate.

Fitch's rating definitions and the terms of use Terms of Use are rules set up by the owner of an intellectual property or service to govern how they may be legally used.

In many cases, terms of service are used as a contractual agreement between a company and users of a service they provide.
 of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental  are also available from the 'Code of Conduct' section of this site.
COPYRIGHT 2007 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2007, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:May 4, 2007
Words:441
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