Citi Subprime Servicer Rating Upgraded

Fitch Ratings has upgraded CitiFinancial Mortgage Co.'s residential primary servicer rating for subprime product from RPS2 to RPS2-plus.The upgrade is based on CFMC's "experienced" management team, "reliable" loan administration processes, "effective" default management strategies, and success in managing and resolving delinquent loans, Fitch said. The rating also reflects the financial strength of CFMC's parent, Citigroup, which is rated AA-plus by Fitch. Headquartered in Irving, Texas, CFMC has approximately 1,530 servicing employees and is a national provider of home equity loans and first lien mortgages, Fitch reported.