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Fitch Gives CFC Top Master Rating.(Countrywide Financial Corp.)
NEW YORK -- Fitch Ratings has affirmed Countrywide's primary servicer rating and special servicer rating while raising the company's master servicer rating.
Fitch raised the company's master servicer rating from "RMS2+" to "RMS1-" - an increase of one notch on the company's servicer rating scale.
Fitch also affirmed Countrywide's primary servicer rating of "RPS1" for prime, alt-A, subprime, home-equity loans and home-equity lines of credit. Fitch also affirmed Countrywide's special servicer rating for managing seriously delinquent loans at "RSS1."
That is the highest rating level Fitch assigns for primary servicers. Primary servicers deal directly with the customer in managing their home loan account, while master servicers oversee primary servicers and remit payments and data to investors in mortgage-backed securities.
Countrywide Home Loans has eight servicing facilities located in Simi Valley and Lancaster, Calif.; Plano, Fort Worth and Richardson, Texas; Tempe, Ariz.; and Mumbai and Hyderabad, India. Fitch noted that the company continues to use its own integrated mortgage-related ...
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Source: HighBeam Research, Fitch Gives CFC Top Master Rating.(Countrywide Financial Corp.)