Fitch Lowers Nationstar's Servicer Rating

November 15, 2006, 3:00 p.m. EST 1 Min Read

Fitch Ratings has lowered the residential primary servicer rating of Nationstar Mortgage LLC (formerly Centex Home Equity Corp.) from RPS2-plus to RPS2 for subprime loans.The rating agency said the downgrade was based on Nationstar's change in ownership from Centex Corp., which is rated BBB-plus, to a nonrated company, Fortress Investment Group. Nationstar is part of Fortress' private equity group. Fitch rates residential servicers on a scale of 1 to 5, with 1 being the highest rating.

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