Fitch Ratings announced today that it has affirmed First Horizon Home Loan Corporation’s (First Horizon) residential primary servicer ratings for prime and Alt-A products at ‘RPS2.’ Headquartered in Irving, Texas, First Horizon originates residential mortgage loans through its large retail branch system and through a network of brokers and correspondents. First Horizon has serviced a broad array of residential loans for more than 22 years and has been servicing residential mortgage backed securities (RMBS) for more than six years. As of August 2006, the company serviced 630,128 loans totaling over $100 billion, a 2.8% growth by loan volume over the prior year. According to Fitch’s review, First Horizon continues to refine its servicing platform through operational and technological improvements that the agency says further enhance the efficiencies and productivity of the company. During the year, the company completed several technology upgrades in its loan administration and default management areas that further expand the company’s capacity to support a growing portfolio. As in previous years, First Horizon’s cost management structure includes actively outsourcing servicing functions where it sees a cost benefit advantage. Fitch said it believes that First Horizon continues to provide a scalable servicing platform with effective processes and controls and reliable integrated systems. However, Fitch will continue to monitor First Horizon’s effectiveness in managing its overall customer service and collection metrics as well as the company’s effectiveness in maintaining consistent performance in the pursuit of its growth initiatives. 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 (-) symbols, as well as the flat rating. For more information on Fitch’s residential servicer rating program, visit

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