Fitch Withdraws Cenlar’s Servicer Ratings

Posted by Orb Staff on March 11, 2009 No Comments
Categories : Mortgage Servicing

Fitch Ratings has withdrawn Cenlar FSB's primary residential servicer ratings for prime and Alt-A products. The agency has also withdrawn Cenlar's specialty servicer rating for subservicer products.

The withdrawals are based on a lack of sufficient information to maintain the ratings. Fitch does not rate the credit or financial strength of Cenlar or its parent company, Cenlar Capital Corp.

Cenlar, which operates its servicing business from two sites located in Ewing, N.J., performs interim servicing, third-party subservicing and primary servicing for various financial entities. As of June 30, 2008, Cenlar serviced 249,799 mortgage loans totaling more than $52.7 billion.

SOURCE: Fitch Ratings

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