Fitch Affirms 7 Classes from 6 HECM Reverse Mortgage Transactions

NEW YORK--(BUSINESS WIRE)-- As part of its continued surveillance efforts, Fitch Ratings has affirmed seven classes from six HECM Reverse Mortgage Transactions. A full rating list is shown below.

The notes represent beneficial ownership interest in the trust. The trust consists of a mortgage pool of home equity conversion mortgages (HECM) that are insured by the Federal Housing Administration (FHA) and secured by one-to-four-family, first lien, residential properties. The rating actions reflect the credit support provided by the FHA insurance.

Fitch's rating actions are as follows:

Mortgage Equity Conversion Asset Corporation 2006-SFG1

--Class A (61910RAA9) affirmed at 'AAAsf'; Outlook Stable.

Mortgage Equity Conversion Asset Corporation 2006-SFG2

-- Class A (61910YAA4) affirmed at 'AAAsf'; Outlook Stable.

Mortgage Equity Conversion Asset Corporation 2006-SFG3

-- Class A (61911AAA5) affirmed at 'AAAsf'; Outlook Stable.

Mortgage Equity Conversion Asset Corporation 2007-FF1

-- Class A (61910AAA6) affirmed at 'AAAsf'; Outlook Stable.

Mortgage Equity Conversion Asset Corporation 2007-FF3

-- Class A (61911GAA2) affirmed at 'AAAsf'; Outlook Stable;

-- Class IO (61911GAB0) affirmed at 'AAAsf'; Outlook Stable.

RiverView HECM Trust 2007-1

-- Class A (769422AA4) affirmed at 'AAAsf'; Outlook Stable.

These actions were reviewed by a committee of Fitch analysts.

Additional information is available at 'www.fitchratings.com'.

Applicable Criteria and Related Research:

--'Global Structured Finance Rating Criteria' (Aug. 16, 2010);

--'U.S. RMBS Surveillance Criteria' (April 28, 2010);

--'Counterparty Criteria for Structured Finance Transactions' (March 14, 2011);

--'Fitch Revises Practice for Rating IO & Pre-Payment Related Structured Finance Securities' (June 23, 2010).

Applicable Criteria and Related Research:

Global Structured Finance Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=547326

U.S. RMBS Surveillance Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=517125

Counterparty Criteria for Structured Finance Transactions

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=605425

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Fitch RatingsSandro Scenga, +1-212-908-0278
Media Relations, New York
[email protected]
or
Performance Analyst:Susan Hosterman, +1-212-908-0670
Director
Fitch Inc.
One State Street Plaza
New York, NY 10004
or
Committee Chairperson:Michele Patterson, +1-212-908-0779
Senior Director

Source: Fitch Ratings