Fitch Upgrades ABN AMRO Master Servicer Rating to 'RMS3+'.

NEW YORK -- Fitch Ratings upgrades ABN AMRO Mortgage Group, Inc.'s (AAMG) residential master servicer rating to 'RMS3+' from 'RMS3'. In addition, Fitch affirms AAMG's residential primary servicer rating of 'RPS2+' for prime product and assigns an 'RPS2-' residential primary servicer rating to its Alt-A product.

The master servicer rating upgrade is based on the company's ability to effectively oversee and monitor the loan accounting, investor reporting, and default management of its primary servicers. The rating also reflects AAMG's efficient use of technology and the ongoing development of its master servicing platform through the addition of experienced staff and enhancements to its servicer oversight program. The primary servicer ratings are based on the company's experienced management team, effective loan administration procedures, and solid default management practices. Additionally, the Alt-A rating is based on the company's use of its prime servicing platform as a foundation for servicing Alt-A product in conjunction with adjustments to accommodate product differences, such as more aggressive collection call and notice cycles. All of the ratings reflect the company's broad training programs and the financial strength of its parent, LaSalle Bank Corporation, whose long-term debt is rated 'AA-' by Fitch.

AAMG, a leading originator and servicer of residential mortgage loans, is a wholly owned subsidiary of LaSalle Bank Corporation (formerly ABN AMRO North America, Inc.) and its ultimate parent, ABN AMRO N.V. (ABN AMRO Bank), one of the world's largest banks, whose long-term debt is rated 'AA-' by Fitch. Headquartered in Ann Arbor, MI and operating three servicing platforms in Troy, MI, Norridge, IL, and Jacksonville, FL, AAMG originates prime and Alt-A mortgage loans nationwide through its retail and wholesale channels. As of April 30, 2006, AAMG serviced more than 1.5 million mortgage loans totaling over $212 billion.

The master servicing unit, based in Chicago, IL, was organized in May 2002 to manage prime-quality loans purchased and sold to investors through ABN AMRO's Capital Markets Group (AMCAP). The unit provides support to AAMG in its purchase program, diversifying product sources by including purchased loans serviced by others in AAMG securities. Additionally, through master servicing, LaSalle Bank's Global Securitization Trust Services (GSTS) offers master servicing to its institutional customers. As of April 30, 2006, AAMG master serviced 99,523 loans totaling nearly $7.9 billion, an increase from 29,890 loans totaling almost $1.8 billion as of July 31, 2005. Fitch will continue to monitor AAMG's master servicing unit's ability to manage its staffing, capacity plans, and performance as it pursues its growth initiatives in an established and competitive environment.

Since Fitch's last review, AAMG has expanded its servicing of Alt-A product. The primary servicing unit continues to focus on its six sigma initiatives and process improvements to refine its operations. Over the past year, AAMG implemented workflow and system process improvements in various operational areas including escrow administration, lien release, and customer service. Fitch will continue to monitor AAMG's ability to maintain portfolio performance while pursuing its expansion into new products and implementing structural, procedural, and technology enhancements.

Fitch Ratings 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 US Residential Mortgage Servicers', dated June 21, 2006, which is available on Fitch's 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.