Moody's Affirms Citi's Servicer Ratings
Moody's Investors Service has affirmed CitiMortgage's top rating as a primary servicer of prime residential mortgage loans.
Moody's said that Citi's "SQ1" rating is based on strong collection abilities, strong loss mitigation results, above-average foreclosure and REO timeline management, and strong servicing stability. CitiMortgage's ultimate parent company, Citigroup, is rated Aa1 for senior unsecured debt. CitiMortgage's prime, first-lien servicing portfolio consisted of nearly 2.4 million loans with a total balance of $352 billion as of Sept. 30, 2005.
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