Fitch Affirms Regions’ Alt-A, Subprime Servicer Ratings

Posted by Orb Staff on July 15, 2009 No Comments
Categories : Mortgage Servicing

Ratings has affirmed Birmingham, Ala.-based Regions Mortgage's primary servicing ratings for Alt-A and subprime products at RPS2-. These rating actions reflect Regions' experienced management team, effective loan administration and default management practices, established training programs, as well as the financial strength of Regions' parent company, Regions Financial Corp, Fitch says. Regions has servicing sites located in Memphis, Tenn., and Hattiesburg, Miss., and the company serviced more than 304,750 residential loans, with an aggregate principal balance of $37.1 billion as of March 31. SOURCE: Fitch

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