Fitch Affirms 2 RMBS Classes from 2 First Union HEL

NEW YORK--(Business Wire)--
Fitch has affirmed the following First Union Home Equity Loan
(FUHEL) mortgage pass-through certificates:

Series 1997-1

--Class B affirmed at 'B'.

Series 1997-3

--Class B affirmed at 'CCC/DR2'.

The collateral on the aforementioned transactions consists of
mixed term, fixed-rate and balloon mortgages extended to subprime
borrowers. The servicer for all transactions is First Union National
Bank of North Carolina, which is currently not rated by Fitch.

The affirmations are due to satisfactory relationships of credit
enhancement (CE) to future expected losses, and affect approximately
$628,000 in outstanding certificates. The pool factors (current
collateral balance as a percentage of initial collateral balance) and
seasoning for 1997-1 and 1997-3 are 3% and 4%, and 131 months and 125
months, respectively. The cumulative losses are 4.69% and 5.67%,
respectively.

Further information regarding current delinquency, loss and credit
enhancement statistics is available on the Fitch Ratings web site at
www.fitchratings.com.

Fitch's Distressed Recovery (DR) ratings are designed to estimate
recoveries on a forward-looking basis while taking into account the
time value of money.

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.

Fitch Ratings
Michele Patterson, 212-908-0779
Tara Sweeney, 212-908-0347 (New York)
Media Relations:
Sandro Scenga, 212-908-0278 (New York)

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