HSBC Gets Primary Servicer Rating

Fitch Ratings has assigned HSBC Mortgage Corp. (USA) an RPS2-plus residential primary servicer rating for prime, alternative-A, and home equity/home equity line of credit products.Fitch said the rating is based on HSBC Mortgage's "experienced management team, solid internal controls, and integrated technology." Fitch said the rating also reflects the financial strength of parent company HSBC Holdings PLC, which has an issuer default rating of AA from Fitch. HSBC Mortgage, based in Depew, N.Y., is a wholly owned subsidiary of HSBC Bank USA NA, which is a subsidiary of HSBC Holdings. Fitch rates residential servicers 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.