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ABN Amro Offers Master Servicing

ABN Amro Capital Markets here has started offering master servicing in the market and was recently added to Standard & Poor's Select Servicer list.

As a master servicer, AMCAP monitors the sellers of mortgage loans who retain the servicing rights and obligations. AMCAP supports a loan package placed into securities by collecting payments from one more of its underlying servicers and remitting that payment to a trustee for distribution to bondholders. "Master servicing allows AMCAP to diversify ABN Amro Mortgage Group's origination sources beyond its traditional wholesale channel," said Maria Fregosi, AAMG group senior vice president and capital markets manager. "Additionally, when production decreases, AMCAP becomes an increasingly important business channel for AAMG. Bulk acquisitions give AAMG additional economies of scale to sell and securitize nonconforming mortgage products."

The company noted that inclusion in S&P's Select Servicer list indicates that AMCAP performs master servicing duties in a manner that is in general compliance with investor, regulatory and agency requirements. It also indicates that the firm meets the criteria for obtaining at least an "average" S&P ranking with an outlook of "stable."

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