CitiFinancial Subprime Servicer Rating Raised

Fitch Ratings has raised the residential primary servicer rating of CitiFinancial Mortgage Co., Dallas, from RPS3-plus to RPS2 for subprime loans.The upgrade was based on CFMC's "experienced management team, reliable loan administration processing and controls, effective default management strategies, and continued success in managing and resolving its delinquent portfolio," Fitch said. The rating agency also cited the financial strength of CFMC's parent, Citigroup, which is rated AA-plus by Fitch.