Fitch Removes Nationstar’s Ratings From Rating Watch Evolving

Posted by Orb Staff on June 10, 2010 No Comments
Categories : Mortgage Servicing

Ratings has updated the residential primary servicer rating for subprime product for Nationstar Mortgage LLC at RPS2- and removed the company's ratings from Rating Watch Evolving status. Fitch says its actions are based on Nationstar's stabilizing and improved financial profile. Further, as of Fitch's last operational review of Nationstar in the fourth quarter of last year, Fitch confirmed that Nationstar has maintained or improved its operational standards while addressing today's high-delinquency environment. A full annual operational and financial review is scheduled to take place in the third quarter of this year. Located in a suburb of Dallas, Nationstar has been operating since 1997, and was sold to the Fortress Investment Group family of companies in 2006. As of May 31, Nationstar's total servicing portfolio consisted of a $33.1 billion unpaid principal balance (UPB) and approximately 226,000 loans. Fannie Mae loans constitute approximately 70% of the portfolio, with a $22.9 billion UPB and approximately 153,000 loans. SOURCE: [link=http://www.fitchratings.com]Fitch Ratings

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