Fitch Affirms National City Mortgage's Resi Servicer Ratings of 'RPS1-'.

NEW YORK -- Fitch Ratings has affirmed National City Mortgage's (NCM) residential servicer ratings as follows:

--Primary servicer rating for prime product at 'RPS1-';

--Primary servicer rating for Alt-A product at 'RPS1-'.

These rating actions reflect NCM's experienced management team, comprehensive controls, and proficient loan administration practices. The ratings also reflect the financial strength of NCM's parent, National City Corporation (NCC), rated 'AA-/F1+', with a Negative Outlook, by Fitch.

NCM, a subsidiary of National City Bank (NCB), is a full-service, prime and Alt-A residential mortgage banking company headquartered in Miamisburg, Ohio. NCM started in 1955 and has grown over time through a series of mergers and acquisitions. NCB has aggressively grown NCM organically and as of Dec. 31, 2006, the mortgage portfolio consisted of approximately 1.1 million loans totaling $170.7 billion. This includes over 80,500 prime loans totaling $34.4 billion, over 68,000 ALT-A loans totaling $13.8 billion, over 755,000 GSE (government sponsored entities) loans totaling $99.2 billion, and over 196,000 private securities loans, home equity/home equity lines of credit loans, private, and member bank loans totaling $23.3 billion.

Since Fitch's last review, NCM's servicing organization was transitioned into a newly reorganized Lending Services Division of NCB. In addition, an enhancement to improve the calculation of service fee changes was installed in investor reporting and enhancements in customer service reduced the average call by 18 seconds. At the time of Fitch's review, projects were underway to determine if offshore vendors could provide expense and scalability benefits. In November 2006, NCM had a successful integrated disaster recovery test.

Fitch believes that NCM is a dependable servicer with extensive systems, experienced and well-trained staff, and robust processes and controls in place. However, Fitch will continue to monitor the company's ability to maintain its strong servicing performance in a rising delinquency environment.

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 servicer rating program, please see Fitch's report 'Rating U.S. Residential Mortgage Servicers', dated Nov. 29, 2006, which is available on the Fitch Ratings web site 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.