Fitch Ratings has upgraded the servicing status of Residential Credit Solutions, Ft. Worth, Texas, saying the firm can "effectively manage and liquidate" nonperforming loans and real estate.
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The firm is now rated RP3+, an improvement from its prior rating of RP3-. Founded by industry veteran Dennis Stowe, RCS is also a participant in the government's HAMP program. It recently hired Rudy Orman, a former Goldman Sachs official, to assist in its mortgage investing and servicing plans.
