Fitch Ratings has upgraded Option One's special servicer rating to RSS1, its top rating.Kathleen Tillwitz, a senior director at Fitch, said Option One's expansion and portfolio growth initiatives have been accompanied by the recruitment of industry veterans, including chief servicing officer John Vella, to oversee loan administration and default management. Fitch also affirmed Option One's RPS1 rating for primary servicing of subprime loans. Option One services more than $27 billion of home loans. It employs more than 800 associates at its servicing facilities in Irvine, Calif., and Jacksonville, Fla.
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