Fitch Ratings has upgraded Ameriquest Mortgage Co.'s residential primary servicer rating for subprime product from RPS2 to RPS2-plus and its special servicer rating from RSS2-minus to RSS2-plus.The subprime servicer rating reflects the Orange, Calif-based AMC's "demonstrated effectiveness in managing and resolving subprime, nonperforming, and subperforming residential mortgages during a period of rapid servicing portfolio growth," Fitch said. The rating also reflects AMC's expanded call center capacity, effective loan administration, "seasoned" servicing management team, "robust" training programs, "progressive" technology, and "proficient" default management practices, the rating agency said. The special servicer rating takes into account AMC's "successful record of resolving delinquent loans prior to foreclosure," Fitch said. Fitch rates primary, master, and special servicers of residential mortgages on a scale of 1 to 5, with 1 being the highest rating. The rating agency can be found online at http://www.fitchratings.com.
