Agency Upgrades IndyMac's Ratings
Fitch Ratings has upgraded the servicing ratings on IndyMac Bank.
The new ratings for IndyMac are "RPS2" for prime, subprime and alt-A loans. Previously, Fitch had rated the servicer "2-minus" in those categories.
Additionally, Fitch also raised IndyMac's special servicer rating a notch to "RSS2."
Fitch affirmed IndyMac Bank's residential mortgage master servicer rating at "RMS2-plus."
The new ratings reflect the "further progress that IndyMac Bank's platform has made in the past 12 months in recruiting seasoned professionals to the servicing management team," Fitch analysts John Searson and Kathleen Tillwitz said in an announcement about the upgrade. Fitch said IndyMac has also restructured the platform to best take advantage of operational synergies.
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