Fitch Affirms $705.3MM from 1 HSBC HELT 2007 Subprime Deal.

NEW YORK -- Fitch Ratings has taken the following rating actions on one HSBC Home Equity Loan Trust mortgage pass-through certificates transaction. Affirmations total $705.3 million. Break Loss percentages (BL) and Loss Coverage Ratios (LCR) for each class are included with the rating actions as follows:

HSBC HELT 2007-1

--$105.9 million class A-1F affirmed at 'AAA' (BL: 69.32, LCR: 10.01);

--$84.6 million class A-1V affirmed at 'AAA' (BL: 69.32, LCR: 10.01);

--$34.4 million class A-2F affirmed at 'AAA' (BL: 59.41, LCR: 8.66);

--$28.7 million class A-2V affirmed at 'AAA' (BL: 59.41, LCR: 8.66);

--$45.7 million class A-3F affirmed at 'AAA' (BL: 48.54, LCR: 7.08);

--$34.1 million class A-3V affirmed at 'AAA' (BL: 48.54, LCR: 7.08);

--$69.3 million class A-4 affirmed at 'AAA' (BL: 40.51, LCR: 5.91);

--$42.7 million class A-M affirmed at 'AAA' (BL: 40.51, LCR: 5.91);

--$170.8 million class A-S affirmed at 'AAA' (BL: 40.51, LCR: 5.91);

--$44.2 million class M-1 affirmed at 'AA+' (BL: 35.83, LCR: 5.22);

--$44.7 million class M-2 affirmed at 'AA' (BL: 31.63, LCR: 4.61).

Summary

--Originators: HSBC (Household) (100%);

--60+ day Delinquency: 0.65%;

--Realized Losses to date (% of Original Balance): 0.00%;

--Expected Remaining Losses (% of Current Balance): 6.86%;

--Cumulative Expected Losses (% of Original Balance): 6.13%.

The rating actions are based on changes that Fitch has made to its subprime loss forecasting assumptions. The updated assumptions better capture the deteriorating performance of pools from 2007, 2006 and late 2005 with regard to continued poor loan performance and home price weakness. Additional details are available in the following research, also available at www.fitchratings.com:

All of Fitch's ratings criteria for U.S. subprime RMBS available at www.fitchratings.com/subprime. For a list of deals currently under analysis please visit www.fitchratings.com/smartview.

Fitch's rating definitions and the terms of use 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 are also available from the 'Code of Conduct' section of this site.