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Fitch Ratings has upgraded Cendant Mortgage's ratings as a residential servicer for prime loans and has given the company a home equity servicer rating as well.
Fitch now rates Cendant as a 'RPS1-' servicer of residential prime mortgage loans, up from 'RPS2+'.
And at the same time, Fitch assigned Cendant its 'RPS2+' rating as a primary servicer of home equity loans and home equity lines of credit.
The new home equity and HELOC servicer rating reflects Cendant's "established internal controls, solid loan administration processes, and effective default management practices for second liens," Fitch said.
Cendant Mortgage, headquartered in Mt. Laurel, N.J., has been servicing prime residential mortgage loans for over 24 years. As of Sept. 30, Cendant serviced a residential portfolio of more than 811,000 loans for over $111.8 billion, ...
Source: HighBeam Research, Fitch Upgrades Cendant's Ratings.(Brief Article)