Fitch Assigns MetLife Resi Servicer Ratings; Rating Watch Evolving

NEW YORK--(Business Wire)--
Fitch Ratings assigns the following U.S. residential servicer
ratings to MetLife Home Loans, a division of MetLife Bank, NA (MHL):

--Primary servicer rating for prime product at 'RPS2';

--Primary servicer rating for Alt-A product at 'RPS2'.

The ratings are placed on Rating Watch Evolving.

On Aug. 31, 2008, First Horizon National Corporation (FHN)
completed the sale of its mortgage origination and servicing platforms
to MetLife Bank, NA, a wholly owned subsidiary of MetLife, Inc.
MetLife has renamed the servicing division formerly known as First
Horizon Home Loans, a Division of First Tennessee Bank, National
Association (First Horizon) to MetLife Home Loans, a division of
MetLife Bank, NA. The rating actions reflect the operational
capabilities of the existing servicing platform, and the financial
strength of MHL's ultimate parent, MetLife, Inc. (rated 'A+' by
Fitch).

The Rating Watch Evolving indicates that a further rating action
of a downgrade, upgrade or affirmation may occur based on Fitch's
operational review of the servicing platform planned for the fourth
quarter of 2008. Fitch will continue to monitor MHL's ability to
maintain performance while integrating its business processes with the
MetLife culture, management and operations.

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.

Fitch Ratings, New York
Stephanie Whited, +1-562-481-1368
Mary Kelsch, +1-212-908-0563
Sandro Scenga, +1-212-908-0278 (Media Relations)

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