The entire muscle from which the Filet are cuts known as the Tenderloin, which is cut from the lower back of the beef. This muscle has it easy, making for fine muscle fibers and a soft, tender cut. The entire muscle is known as the Tenderloin, whereas steaks cut from the same area are served as Filet Mignon. Filet also appears opposite the Strip in both Porterhouse and T-Bone steaks.
This cut does not have much protective fat, so you want to cook the Filet quickly over high heat. The idea is to get a nice sear on the outside, while keeping the internal temperature to a juicy 130 degrees (medium rare). Be careful not to overcook this wonderfully tender cut, the lack of fat could leave you with a tough meal. Finally, let your filet rest before enjoying and enjoy with a nice bearnaise sauce. It is a technically difficult sauce to make but soooooo worth it.