Fitch Sees Wilshire Improving
Fitch Ratings has affirmed Wilshire Credit Corp.'s residential primary servicer ratings for subprime, home equity, and high loan-to-value products of "RPS2" and its residential special servicer rating of "RSS2-plus."
Fitch said the ratings for primary servicing are based on WCC's seasoned, experienced management, extensive default management experience, expanded training programs and integrated technology.
The special servicer rating is based on WCC's ability to effectively manage and liquidate nonperforming residential mortgage loans and real estate owned assets.
WCC, located in Beaverton, Ore., serviced over 98,000 loans totaling more than $4.7 billion as of March 31.
Over the past four years, WCC has focused on significant improvements to its contract servicing operations, Fitch said. The company has leveraged its scalable platform, core competencies in default management and specialized, client-driven reporting capabilities.
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