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CitiMortgage Gets Top Fitch Rating.(Brief Article)

Mortgage Servicing News

| March 01, 2003 | COPYRIGHT 2003 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Fitch Ratings has upgraded the residential primary servicer rating for CitiMortgage to 'RPS1' from 'RPS1-minus,' moving the Citigroup subsidiary into the highest category for residential servicer ratings.

The rating is based on CitiMortgage's experienced management team, solid collateral performance, state-of-the-art risk management tools, comprehensive training programs and the financial strength of its parent company, Fitch said. Citigroup is rated 'AA-plus' by Fitch.

CitiMortgage is headquartered in Saint Louis and is one of the 10 largest home loan servicers in the nation. It has servicing platforms in Saint Louis; Farmington Hills, Mich.; Frederick, Md.; and Great Falls, Mont.

As of Sept. 30, 2002, the servicing portfolio consisted of about 795,000 prime mortgage loans with a principal balance of $111 billion, including 56% Fannie Mae or ...

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Source: HighBeam Research, CitiMortgage Gets Top Fitch Rating.(Brief Article)

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