Financial Freedom Gets Servicer Rating

Fitch Ratings has assigned Financial Freedom Senior Funding Corp. an RPS3-plus residential primary servicer rating for reverse-mortgage loans.Fitch said the rating is based on Financial Freedom's expertise in servicing reverse mortgages, integrated payment processing and reverse-mortgage systems, and established quality-monitoring procedures. Fitch said the rating also reflects the financial strength of parent company IndyMac Bank, which has a long-term debt rating of BBB-minus from Fitch. Financial Freedom is based in Irvine, Calif., and has a specialized reverse-mortgage servicing platform in San Francisco. Financial Freedom serviced approximately 93,000 loans totaling more than $9.8 billion as of May 31.