Fitch Affirms 9 and Downgrades 4 Classes from 4 MLMI Subprime Transactions

NEW YORK--(Business Wire)--
Fitch Ratings has taken the following rating actions on four
Merrill Lynch Mortgage Investors (MLMI) mortgage pass-through
certificate transactions. Unless stated otherwise, any bonds that were
previously placed on Rating Watch Negative are removed.

Series 2002-AFC1 Group 1

--Class MF-1 affirmed at 'AAA';

--Class MF-2 affirmed at 'A';

--Class BF-1 affirmed at 'B+'.

Deal Summary

--Originators: 100% Superior Bank FSB

--60+ day Delinquency: 22.58%

--Realized Losses to date (% of Original Balance): 7.45%

Series 2002-AFC Group 2

--MV-2 affirmed at 'AA-';

--BV-1 downgraded to 'CC/DR3' from 'B'.

Deal Summary

--Originators: 100% Superior Bank FSB

--60+ day Delinquency: 42.49%

--Realized Losses to date (% of Original Balance): 8.14%

Series 2002-HE1

--A-1 affirmed at 'AAA';

--M-1 downgraded to 'A' from 'AA+';

--M-2 downgraded to 'BBB' from 'AA-';

--B downgraded to 'BB' from 'BBB'.

Deal Summary

--Originators: Option One and Wells Fargo Home Mortgage

--60+ day Delinquency: 25.18%

--Realized Losses to date (% of Original Balance): 1.17%

Series 2002-NC1

--M-1 affirmed at 'AA';

--M-2 affirmed at 'A';

--B-1 affirmed at 'B+';

--B-2 affirmed at 'B'.

Deal Summary

--Originators: 100% New Century Corp.

--60+ day Delinquency: 13.93%

--Realized Losses to date (% of Original Balance): 1.83%

Additional details are available in the following research,
available at www.fitchratings.com

--'Downgrade Criteria for Recent Vintage U.S. Subprime RMBS' (Aug.
8, 2007);

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

Further information regarding current delinquency, loss, and
credit enhancement statistics is also available 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.

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

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