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ISCOVER
Staff Reporter
Standard & Poor's Ratings Services has today affirmed its ‘strong’ ranking for non-bank lender RESIMAC.
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According to a statement from the company, both RESIMAC’s prime residential loan servicer ranking and subprime residential loan servicer ranking are ‘Strong’ and ‘Stable’.
“The STRONG prime and subprime residential loan servicer rankings reflect RESIMAC's sound servicing quality and key servicer strengths, which include its senior management team's extensive [experience] and the robust management structure,” the statement read.
“It also reflects RESIMAC’s comprehensive risk management and corporate governance framework; well-designed scalable technology platform, with a fully integrated end-to-end loan servicing platform; and well-established position as an experienced servicer of prime residential mortgage loans, with 27 years' experience in the mortgage industry.”
While RESIMAC's subprime track record is relatively limited, Standard & Poor’s Ratings Services said it believes the company has leveraged its prime residential loan servicing experience to build a nonconforming and subprime business comparable to its prime loan servicing operations.
“The 'Stable' outlook on the subprime and prime rankings reflects our expectation that RESIMAC will maintain its strong processing and servicing competence, which is underpinned by its substantial technology infrastructure, experienced management team, and qualified staff,” the statement read.
