Fitch Assigns Construction Loan Servicer Rating

Fitch Ratings has assigned its first construction loan servicer rating to JP Morgan Commercial Real Estate Loan Administration, Phoenix.CRELA is rated 'Acceptable' as a construction loan servicer for commercial real estate loans. (Fitch rates construction loan servicers 'Acceptable' or 'Unacceptable.') "The rating considers CRELA's extensive history of construction loan administration, project underwriting and servicing, experienced and tenured management and staff, and the strong operational risk and financial resources provided by its parent, JP Morgan Chase & Co.," Fitch said. The rating also considers CRELA's "extensive use" of technology. Fitch said it is the first rating agency to publish criteria for the rating of construction loan pools. It can be found online at http://www.fitchratings.com.