Standard & Poor’s has increased its ranking of residential servicer and technology provider Reverse Mortgage Solutions from “above average” to “strong.”
This is one of the highest assigned rankings to a mortgage servicing operation—forward or reverse—which signals that the company established in 2007 is making smart business decisions.
The agency raised the ranking of RMS because of “the company’s experienced management and staff team, a superior and robust systems environment, very effective internal controls and financial stability.”
Another reason why RMS now has a “strong” rating is because of its “sound policies and procedures, astute business strategies, and proactive reaction to evolving loan type specific issues, risk aversion and an overall ability to effectively administer reverse mortgage loans, particularly in the area of systems management.
The Spring, Texas-based company offers technology and consulting services to the mortgage market and a loan origination platform that is specific to the reverse mortgage loan product. RMS recently expanded into correspondent and retail originations and created new asset management capabilities for performing and nonperforming forward mortgages and REOs.
“This rating represents a lot of hard work by many people at RMS, especially on the operational side,” said Marc Helm, president and COO of RMS. “The company has grown from an idea to over 47,000 reverse mortgage loans serviced and nearly 200 full-time employees in several locations across this country in only four years.”
