Fitch Affirms 5 Classes from 2 Mego Subprime Transactions

Business Wire, May 28, 2008

NEW YORK -- Fitch Ratings has taken the following rating actions on Mego Mortgage Corporation mortgage pass-through certificates.

Series 1997-3

--$347,391 class A-4 affirmed at 'AAA';

--$391,604 class M-1 affirmed at 'AA';

--$ 6,079 class M-2 affirmed at 'A'.

Deal Summary

--Originators: Mego Mortgage

--60 day Delinquency: 0.0%

--Realized Losses to date (% of Original Balance): 4.44%

Series 1997-4

--$114,954 class A-4 affirmed at 'AAA';

--$123,553 class M-1 affirmed at 'AA-'.

Deal Summary

--Originators: Mego Mortgage

--60 day Delinquency: 0.0%

--Realized Losses to date (% of Original Balance): 4.03%

Additional details are available in the following research, available at www.fitchratings.com:

--'Downgrade Criteria for Recent Vintage U.S. Subprime RMBS' (Aug. 8, 2007);

All of Fitch's ratings criteria for U.S. subprime RMBS available at www.fitchratings.com/subprime. For a list of deals currently under analysis please visit www.fitchratings.com/smartview.> Further information regarding current delinquency, loss, and credit enhancement statistics is also available 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.