Fitch Affirms SunTrust Mortgage Residential Servicer Rating of 'RPS2'

NEW YORK--(Business Wire)--
Fitch Ratings affirms SunTrust Mortgage, Inc.'s (STM) U.S. residential primary
servicer rating for prime product at 'RPS2'. The rating is based on the
company's experienced and tenured senior management team and effective loan
administration procedures. The rating also reflects the financial strength of
STM's parent, SunTrust Banks, Inc, (SunTrust) which is rated 'A-' with a
Negative Rating Outlook by Fitch.

STM is a wholly owned subsidiary of SunTrust. Located in Atlanta, GA, SunTrust
is ranked among the top ten largest commercial banks by asset size in the U.S.
with a footprint that includes the MidAtlantic and Southeastern states. STM is
headquartered in Richmond, VA, and originates and services a full range of prime
residential mortgages nationwide through its retail, wholesale and correspondent
channels. As of April 30, 2009, the company serviced 967,214 residential
mortgage loans totaling approximately $166 billion.

Since Fitch's last review, the previous servicing manager retired from the
company and the position still remains open. In addition, the servicer made
several notable changes to its operation; the consumer lending and mortgage
operations were combined under one organizational structure, with both default
areas under one management team with new processes and procedures being
implemented. Senior line managers were hired, and the servicer implemented team
member recruiting and incentive compensation programs. In addition, a new call
center was opened in Orlando and its existing VA operations were expanded to
accommodate delinquency-related issues.

The servicer has continued its technological enhancements within its customer
service functionalities and has continued effecting changes to the existing
processes and procedures to aid its portfolio performance and improve customer
contact.

Fitch's review confirmed that STM continues to operate an effective servicing
platform through its experienced management team, industry standard technology,
and effective loan administration processes and procedures. However, Fitch will
continue to monitor STM's ability to manage loan performance, while it continues
its re-organization efforts in a rising default 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.

Fitch Ratings, New York
Michael Laidlaw, +1-212-908-0251
Diane Pendley, +1-212-908-0777
Media Relations:
Sandro Scenga, +1-212-908-0278
sandro.scenga@fitchratings.com

Copyright Business Wire 2009