Roundup: Walter Mortgage Added to S&P Select Servicer List
Walter Mortgage Co., an indirect, wholly owned subsidiary of Walter Industries, has been added to Standard & Poor's Select Servicer List.
The Tampa, Fla.-based company noted that S&P adds firms to its servicer list only after a comprehensive review of their operational capabilities for servicing residential mortgage portfolios. The assessment includes organization, internal controls, historical portfolio performance, cash management, organizational efficiency and asset/loan administration.
"We believe this listing, coupled with recent ratings received by Fitch Ratings, is further validation of the effectiveness of our direct contact servicing program. This business model has allowed us to improve our portfolio's performance in a time when other subprime servicers are struggling," said Mark O'Brien, CEO of Walter Industries' financing and homebuilding business.
Walter Industries is a producer and exporter of metallurgical coal for the global steel industry and also produces steam coal, coal bed methane gas, furnace and foundry coke, and other related products. The company also operates a mortgage financing and affordable homebuilding business. (c) 2007 Mortgage Servicing News and SourceMedia, Inc. All Rights Reserved. http://www.mortgageservicingnews.com http://www.sourcemedia.com