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Fitch Withdraws Avelo's Resi Servicer Ratings


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© Business Wire 2008
2008-08-05 00:26:04 -

- Fitch Ratings has withdrawn Avelo Mortgage, L.L.C.'s residential servicer ratings as follows:

--Primary servicer rating for Alt-A product at 'RPS3';

--Primary servicer rating for Subprime product at 'RPS3';

--Primary-Specialty servicer rating for Option ARM product at 'RPS3';

--Primary-Specialty servicer rating for Second Lien product at 'RPS3'.

These rating actions reflect the integration of Avelo

Mortgage, L.L.C., a subsidiary of Goldman Sachs with Litton Loan Servicing, LP (Litton), also a subsidiary of Goldman Sachs on July 1, 2008. Larry B. Litton, Jr. is the President and Chief Executive Officer of Litton. Litton servicing sites include: Houston, TX; Atlanta, GA and Dallas, TX. Fitch rates Goldman Sachs Group, Inc's (Goldman) Issuer Default Rating (IDR) at 'AA-/F1+' , Outlook Stable.

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
Margaret Sweeney, +1-212-908-0712
Mary Kelsch, +1-212-908-0563
Media Relations:
Brian Bertsch, +1-212-908-0549


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