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Wilshire Acquires Old Kent Portfolio.(Wilshire Credit Corp.)(Brief Article)
Wilshire Credit Corp., a subsidiary of Wilshire Financial Services Group, has purchased a $178 million portfolio of subprime, first-lien mortgages from Old Kent.
Jay Memmott, president and CEO of Wilshire Credit, said the acquisition of the portfolio "is consistent with our business plan to acquire loans that leverage our platform and people who specialize in labor intensive loan servicing."
Separately, Fitch upgraded Wilshire Credit Corp.'s primary servicer ratings for high loan-to-value and subprime loans to 'RPS2-.' Wilshire also obtained a new rating of the same grade for primary servicing of home equity product.
Fitch said the ratings ...
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Wilshire Credit Corp., Portland, Ore., has received an "above average" rating...capacities at above average with a stable outlook. S&P said Wilshire Credit Corp. has maintained a cohesive organizational structure and implemented...
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- Press release article from: Business Wire January 19, 2006 700+ words
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...NEW YORK--(BUSINESS WIRE)--June 1, 1999-- Fitch IBCA has announced that is has conducted a review of Wilshire Credit Corp. (WCC) and has determined that the key management, mid-management and general staff remaining is adequate...
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- Magazine article from: Mortgage Servicing News August 1, 2000 700+ words
...Services Group announced that its servicing subsidiary, Wilshire Credit Corporation, has obtained a new $8 million credit...establishing with Chase. Jay Memmott, president of Wilshire Credit Corp., said the credit line gives Wilshire the opportunity...
- Fitch Upgrs Wilshire Credit Corp. Resi Servicer Rtgs To `RPS2-'.
- Press release article from: Business Wire July 27, 2001 700+ words
Business Editors NEW YORK--(BUSINESS WIRE)--July 27, 2001 Fitch upgrades Wilshire Credit Corp.'s (WCC) Primary Servicer Ratings for HLTV and Subprime product to `RPS2-'. The upgrade is based on WCC's demonstrated...
- S&P Afms Wilshire Credit Corp's Res Servicer Rankings.
- Press release article from: Business Wire October 17, 2002 700+ words
...s Oct. 17, 2002--Standard & Poor's Ratings Services today affirmed its ABOVE AVERAGE rankings on Wilshire Credit Corp. (WCC), a wholly owned subsidiary of Wilshire Financial Services Group Inc., as a Residential Loan Servicer...
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- Press release article from: Business Wire June 8, 2000 700+ words
...Editors & Analysts NEW YORK--(BUSINESS WIRE)--June 8, 2000 Standard & Poor's today assigned Wilshire Credit Corp. (WCC) an ABOVE AVERAGE ranking with a Stable Outlook as a Residential Alternative Loan Servicer. The assignment...