Fremont Gets B&C Rating from Fitch
Fitch Ratings has assigned Fremont Investment & Loan a "RPS3-minus" residential primary servicer rating for subprime product. The rating reflects Fremont's seasoned executive and servicing management teams, sound loan administration and default management practices, and effective use of servicing technology.
In 1990, Fremont was acquired by Fremont General Corp. as a wholly owned subsidiary, and is now headquartered in Anaheim, Calif. The company specializes in residential mortgage, primarily subprime, and commercial mortgage product. Fremont's parent company is rated "CCC-plus" by Fitch. Fremont's loan servicing platform is located in Anaheim. At the end of last year, Fremont serviced $9.5 billion. Most of the total, $7.8 billion, was serviced on an interim basis.
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