U.S. Bank Gets Master Ratings
Standard & Poor's and Moody's have provided master servicer ratings to U.S. Bank Corporate Trust Services, the company said.
Those ratings allow U.S. Bank Corporate Trust Services to offer master servicing on mortgage-backed securities deals, and U.S. Bank said the expanded product offering reiterates the company's commitment to the MBS business.
As a master servicer, U.S. Bank will be responsible for trustee reports and for overseeing third-party primary servicers on the deals.
Diane Thormodsgard, president of U.S. Bank Corporate Trust Services, said the company is a strong player in the MBS and asset-backed sectors. "We are excited to add master servicing capabilities to our complete line of products and services available to our mortgage-backed securities clients," she said in a company statement.
U.S. Bank Corporate Trust Services provides trustee services on more than $1.7 trillion in principal outstanding in municipal, corporate, asset-backed and international bonds.
U.S. Bank Home Mortgage is the 15th largest mortgage servicer in the country, managing a portfolio of some 750,000 home loans with $86 billion of outstanding principal.
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