Cooperative Bank Gets Rating

Fitch Ratings has assigned a primary servicer rating of "CPS1-" to National Cooperative Bank FSB, a commercial mortgage-backed securities servicer.

As well, the rating agency has rated the servicer a "CMS2-" as a master servicer.

The servicer has also earned a "CSS3" rating for its special servicing role.

These ratings "reflect NCB, FSB's experienced servicing staff and management team and its excellent use of technology," the rating agency said.

As well, the primary servicer rating reflects the servicer's experience as a CMBS primary servicer.

The master servicer rating indicates NCB's "ability to report and remit to CMBS trustees."

And the special servicer rating indicates NCB's "ability to specially service commercial loans in CMBS with a strength in servicing cooperative housing loans."

As of March 31, NCB's servicing portfolio consisted of 2,409 loans totaling $2.9 billion, Fitch reports.

Copyright 2003 Thomson Media Inc. All Rights Reserved. http://www.thomsonmedia.com http://www.mortgageservicingnews.com