Fitch Affirms Homecomings' and RFC's Resi Servicer Ratings.

NEW YORK -- Fitch Ratings removes from Rating Watch Evolving and affirms Homecomings Financial Network LLC's (Homecomings) 'RPS1' residential primary servicer ratings for prime, Alt-A, subprime, high loan-to-value (HLTV), and home equity/home equity lines of credit (HELOC) products and its special servicer rating of 'RSS1'. In addition, Fitch removes from Rating Watch Evolving and affirms GMAC-RFC's master servicer rating of 'RMS1'. The primary and special servicer ratings are based on the company's experienced management team, superior technology platform, comprehensive default management processes, and effective management and liquidation of nonperforming residential mortgage loans and real estate owned assets. The master servicer rating is based on the company's strong master servicing experience and proven ability to oversee the servicing activities of its primary and special servicers. All of the servicer ratings reflect the company's advanced technology, quality customer service, and strong control environment. The ratings also incorporate the financial strength of its parent, Residential Capital LLC (ResCap), rated 'BBB' by Fitch.

On November 30, 2006, Fitch upgraded ResCap's IDR to 'BBB' from 'BBB-' and its parent GMAC LLC's (GMAC) IDR to 'BB+' from 'BB' (Rating Outlook Positive), following the closing of the sale of a controlling interest in GMAC to a consortium led by Cerberus FIM Investors, LLC. The ratings for ResCap and GMAC were also removed from Rating Watch Positive, where they were originally placed on April 3, 2006. With the closing of the transaction, the ratings of ResCap and GMAC will no longer be directly linked to those of General Motors Corp. (GM). Fitch had previously placed the corporate ratings of GMAC, parent of ResCap, and ResCap on Rating Watch Evolving on Oct. 17, 2005 following GM's announcement that it was considering selling a controlling stake in GMAC.

ResCap's Residential Finance Group is integrating its U.S. servicing operations to form a Debt Servicing Utility (DSU) for the company's domestic servicing portfolios. The initiative will involve the integration of its primary, subservicing and master servicing operations which includes the servicing operations of GMAC Mortgage, Homecomings Financial and GMAC-RFC master servicing. The DSU is intended to be a common servicing platform capable of supporting any loan product (including mortgages, consumer loans, and leases), brand or servicing requirements.

Fitch has reviewed the companies' servicing operations and believes Homecomings and GMAC-RFC have the appropriate staff, default procedures, and controls in place to manage their growth initiatives while maintaining performance. However, Fitch will continue to monitor Homecomings' and GMAC-RFC's performance and evaluate their progress as they integrate their servicing operations with GMAC Mortgage.

Fitch rates residential mortgage primary, master, and special servicers on a scale of 1 to 5, with 1 being the highest rating. Within some of these rating levels, Fitch further differentiates ratings by plus (+) and minus (-) as well as the flat rating. For more information on Fitch's residential mortgage servicer rating program, please see Fitch's report, 'Rating US Residential Mortgage Servicers,' dated Nov. 29, 2006 on Fitch's website at www.fitchratings.com.

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.