NEW YORK - (Business Wire) Fitch Ratings has withdrawn the following ratings on First Horizon Home Loans, a division of First Tennessee Bank, National Association (First Horizon) U.S. residential servicer ratings:
--Primary servicer rating for prime product withdrawn at 'RPS2';
--Primary servicer rating for Alt-A product withdrawn at 'RPS2'
The rating action reflects the completion of the sale on Aug. 31, 2008, of First Horizon's mortgage origination and servicing platforms outside Tennessee, by First Horizon's parent, First Horizon National Corporation (FHN) to MetLife Bank, N.A., a wholly owned subsidiary of MetLife, Inc.
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
Stephanie Whited, +1-562-481-1368 (California)
Mary Kelsch, +1-212-908-0563 (New York)
Sandro Scenga, +1-212-908-0278
(Media Relations, New York)
