Fitch Affirms HomEq Servicer Ratings
Fitch has affirmed the primary and special servicer ratings of HomEq Servicing, a unit of Barclays Capital Real Estate, at its highest level.
HomEq is rated "RPS1" as a primary servicer for alt-A and subprime mortgages and as "RSS1" as a special servicer of delinquent loans.
Fitch said the ratings reflect HomEq's "experienced senior management team, integrated technology platform and strong default management processes." The special servicer rating also reflects HomEq's ability to manage and liquidate nonperforming residential home loans and real estate-owned assets.
In November of last year, Wachovia Corp. completed its sale of HomEq to Barclays.
HomEq is headquartered in Sacramento, Calif., with satellite offices in Raleigh, N.C., and Boone, N.C. (c) 2007 Mortgage Servicing News and SourceMedia, Inc. All Rights Reserved. http://www.mortgageservicingnews.com http://www.sourcemedia.com