Fitch Affirms 16 RMBS Classes from 5 Fannie Mae Transactions.

NEW YORK -- Fitch has taken rating actions on the following classes of Fannie Mae (FNMA) issues:

Series 1998-W2

--Class A affirmed at 'AAA';

--Class B1 affirmed at 'AAA';

--Class B2 affirmed at 'AAA';

--Class B3 affirmed at 'AA'.

Series

--Class A affirmed at 'AAA';

--Class B1 affirmed at 'AAA';

--Class B2 affirmed at 'AA-';

--Class B3 affirmed at 'BBB+'.

Series 1998-W5

--Class A affirmed at 'AAA'.

Series 1999-W1

--Class A affirmed at 'AAA';

--Class M affirmed at 'AAA';

--Class B-1 affirmed at 'AA';

--Class B-2 affirmed at 'A'.

Series 1999-W3

--Class M affirmed at 'AAA';

--Class B1 affirmed at 'AA-';

--Class B2 affirmed at 'BBB+'.

The affirmations, affecting approximately $93.33 million of the outstanding balances, are taken due to a satisfactory relationship of credit enhancement to expected losses.

As of the April distribution date, the transactions listed above are seasoned from 98 months (1999-W3) to 105 months (1998-W3, 1998-W2). The pool factors (current principal balance as a percentage of original balance) range approximately from 6% (1998-W5) to 11.4% (1999-W3). In series 1998-W5 and 1999-W1, class A is guaranteed by Fannie Mae.

In all transactions, the underlying collateral consists of fully amortizing 15- to 30-year fixed- and adjustable-rate mortgages secured by first liens extended to subprime borrowers. The mortgage loans were acquired by various originators. Series 1998-W3, 1999-W1 and 1999-W3 are master serviced by Countrywide Home Loans, Inc., which is rated 'RMS1-' by Fitch. Series 1998-W5 is master serviced by CitiMortgage, Inc., which is rated 'RMS1' by Fitch. Series 1998-W2 is master serviced by Wells Fargo Bank, NA, which is rated 'RMS1' by Fitch.

Further information regarding current delinquency, loss, and credit enhancement statistics 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.