Fitch Upgrades Regions’ Alt-A, Subprime Servicer Ratings

Posted by Orb Staff on June 25, 2010 No Comments
Categories : Mortgage Servicing

Ratings has upgraded Regions Mortgage's Alt-A and subprime servicer ratings to RPS2 and removed the company from Rating Watch Negative. The upgrades are based on the company's experienced, highly tenured and cohesive management team, strong control environment and effective servicing operations, Fitch says. Regions operates throughout the South, Midwest and Texas, with its primary business focus being the origination, marketing and servicing of residential mortgage loans. During the past year, the company has enhanced its servicing platform through technology improvements and upgrades, increased staffing where needed and updated processes and workflows, Fitch says. Regions has continued to maintain a strong control environment over its default management processes, including modification and real estate owned disposition strategies. Fitch has reviewed Regions' servicing operations and says it believes the company provides a scalable servicing platform with the appropriate staff, process controls and technology to manage its existing portfolio and potential growth. SOURCE: [link=http://www.fitchratings.com]Fitch Ratings

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