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Ratings Roundup: Homecomings Financial Get Upgraded by Fitch.(Brief Article)
Homecomings Financial, a wholly-owned subsidiary of Residential Funding Corp., has received top servicing designations from international rating agency Fitch.
Homecomings was upgraded to RPS1 as a residential servicer of subprime loans and RSS1 as a special servicer. It also received the top marks for servicing of home equity loans and lines of credit.
At the same time, Fitch affirmed Homecomings RPS1 residential primary servicer rating for prime and alternative-A loan products. All of the ratings are the highest given out by Fitch.
"Strong rating designations demonstrate our commitment to providing top-notch service to our clients, as well as to operating at the highest standards," said Mike Kozlak, president of GMAC-RFC's residential capital group.
He said the ratings are an endorsement of Homecomings' technology, experienced staff, risk management capabilities and diverse product line.
Fitch also praised the company's extensive experience servicing nonperforming assets, its modeling tools and ample capacity for growth.
The company operates servicing centers in Dallas, San Diego and Blue Bell, Penn.
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Source: HighBeam Research, Ratings Roundup: Homecomings Financial Get Upgraded by Fitch.(Brief...