PHH Servicer Rating Upgraded

Published December 30, 2005, 3:00 p.m. EST

1 Min Read

PHH Mortgage Corp.'s residential primary servicer rating for home-equity-related products has been upgraded from RPS1-minus to RPS1 by Fitch Ratings.In addition, Fitch affirmed the Mt. Laurel, N.J.-based company's RPS1 residential primary servicer ratings for prime and alternative-A products. The rating agency said the actions reflect PHH Mortgage's "tenured and experienced management team, impressive technology platform, and extensive risk management practices." Fitch also cited the "solid financial condition" of PHH Corp., the parent company of PHH Mortgage. Fitch rates residential servicers on a scale of 1 to 5, with 1 being the highest rating.

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