American Home's Servicer Ratings Upgraded

Published December 18, 2007, 3:00 p.m. EST

1 Min Read

Fitch Ratings has raised its residential servicer ratings on American Home Mortgage by one notch, reflecting the company's post-bankruptcy restructuring under new ownership.Fitch raised the company's ratings as a primary servicer of prime loans, alternative-A loans, and home equity loans and lines of credit from RPS4 to RPS3-minus. Fitch also removed American Home Mortgage Servicing from Rating Watch Negative. American Home filed for bankruptcy protection in August of this year. WL Ross & Co., a firm that specializes in turning around distressed companies, acquired the servicing unit in November. As of Oct. 31, American Home Mortgage Servicing managed a portfolio totaling $48 billion of home loans. Fitch rates servicers on a scale of one to five, with one being the highest rating.

Processing Content

For reprint and licensing requests for this article, click here.

MORE FROM NATIONAL MORTGAGE NEWS

FHFA

Pulte: 'cartel-like' bureaus should cut costs, eyes bi-merge

The big three's trade group has said they operate legally and protect the industry with a trio of reports. FHFA also is opening up VantageScore for all lenders.

By Bonnie Sinnock
Capital Markets Editor

51m ago
Mortgage brokers

Newrez to expand joint venture network with eXp Realty

eXp World Holdings, the parent company of eXp Realty, and Kind Lending ended their mortgage joint venture, Success Lending, it was reported Wednesday.

By Colin McNamara
Reporter

2h ago
Economy

Labor market rebounds, but all eyes are on inflation for Fed

The U.S. economy added 162,000 jobs in August, bouncing back from a surprise decline in July. The Fed's next interest rate decision will still hinge on next week's inflation reading.

By Kyle Campbell
Staff writer

5h ago
Appraisals

Waivers, AUS are lenders' hedge against any UAD 3.6 crunch

As UAD 3.6's Nov. 2 mandate shrinks an aging appraiser pool, AnnieMac and Lower lean on AUS waivers and in-house teams to dodge 2022-style fee spikes and turn-time delays.

By Colin McNamara
Reporter

8h ago
Housing markets

Cotality: mega investors retreated pre-ROAD act

Mega investors, the smallest segment of non-owner occupied single family homebuyers, were responsible for one-quarter of the unit drop in second quarter sales.

By Brad Finkelstein
Originations Editor

September 3
Originations

Non-QM specialist Truss Financial becomes latest broker turned lender

The company will begin direct-lending operations in its home state of California, before expanding across the U.S. over coming quarters, its executives said.

By Spencer Lee
Technology Reporter

September 3

Load More