Roundup: Wells Fargo Gets Top Master Servicer Rating

Wells Fargo Bank has received the top master servicer rating, SQ1, from Moody's Investors Service. Moody's said the rating reflects Wells Fargo's strong reporting and remittance processes, above-average compliance and monitoring capabilities, and strong servicing stability. The master servicer operation is part of Wells Fargo's corporate trust services division, located in Columbia, Md. Wells Fargo employs 202 associates in its master servicing operations.

Wells Fargo's master servicer portfolio contained 2.19 million loans totaling $467.8 billion of outstanding principal at the end of February. The company provides third-party master servicing for mortgage securities transactions as well as performing the reporting function for the Federal Home Loan Bank System's Mortgage Participation Program. Wells Fargo provides oversight for 163 third-party primary servicing clients on MBS deals and 689 primary servicers in the Federal Home Loan Bank MPP program.

Wells Fargo is responsible for reporting and remittance on 1,021 MBS transactions. Moody's servicer quality ratings range from one (strong) to five (weak).

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