Fitch Rates $276.8MM GMACM Mtge Loan Trust, Series 2005-AF2

--Fitch rates GMACM mortgage pass-through certificates, series 2005-AF2 as follows:

-- $276,833,700 classes A-1, A-2, PO, IO, and R certificates (senior certificates) 'AAA';

The following classes are not rated by Fitch:

-- $9,351,000 class M-1;

-- $3,562,000 class M-2;

-- $2,375,000 class M-3;

The privately offered classes; $1,930,000 class B-1; $1,633,000 class B-2' and $1,187,901 B-3 are not rated by Fitch.

The 'AAA' rating on the senior certificates reflects the 6.75% subordination provided by the 3.15% class M-1, the 1.20% class M-2, the 0.80% class M-3, the 0.65% class B-1, the 0.55% class B-2, and the 0.40% class B-3.

Fitch believes the above credit enhancement will be adequate to support mortgagor defaults as well as bankruptcy, fraud and special hazard losses in limited amounts. In addition, the ratings reflect the quality of the mortgage collateral and the strength of the legal and financial structures and GMAC Mortgage Corporation's capabilities as servicer. Fitch currently rates GMAC Mortgage Corporation a 'RPS1' as a primary servicer for prime residential mortgage loans.

The total mortgage pool consist of 1,037 fixed rate mortgage loans with an aggregate principal balance of approximately $296,872,601.63 as of the cut off date, secured by first liens on one-to four-family residential properties. The weighted-average original loan-to-value ratio (OLTV) was 72.74%. Cash-out and rate/term refinance loans represent 36.79% and 11.09% of the mortgage pool. Second homes and investor property account for 5.71% and 16.29% of the pool. The average loan balance is $286,280.23. The weighted average FICO credit score is approximately 705. The three states that represent the largest portion of mortgage loans are California (19.15%), Arizona (7.43%) and Florida (7.36%).

None of the mortgage loans are 'high cost' loans as defined under any local, state or federal laws. For additional information on Fitch's rating criteria regarding predatory lending legislation, please see the press release issued May 1, 2003 entitled 'Fitch Revises Rating Criteria in Wake of Predatory Lending Legislation', available on the Fitch Ratings web site at www.fitchratings.com.

The loans were sold by GMACM to Residential Asset Mortgage Products, the depositor. The depositor, a special purpose corporation, deposited the loans in the trust, which then issued the certificates. For federal income tax purposes, election will be made to treat the trust fund as one or more real estate mortgage investment conduits (REMICs).

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.

What are people saying about mortgages today:

Rates on 30-year mortgages edged down last week to a seven-month low. Mortgage-giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages fell to 6.3 percent, down slightly from 6.31 percent two weeks ago. It put rates at the lowest level since they were at 6.24 percent the first week of March.

Bank of Hawaii, Central Pacific Bank, Territorial Savings Bank and Wells Fargo Home Mortgages all cut their 30-year mortgage rates to 5.75 percent this week.

Most people think of a mortgage as a means to an end. After all, you buy a house, not a home loan. But a mortgage is much more than the path to homeownership. It is a financial instrument that must be managed, just like any other financial investment.