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Wachovia Mortgage FSB Residential Mortgage Servicer Ranking Raised To STRONG; Outlook Stable Aug 08 Product Image

Wachovia Mortgage FSB Residential Mortgage Servicer Ranking Raised To STRONG; Outlook Stable Aug 08

  • Published: August 2008
  • Standard & Poors

Abstract
NEW YORK (Standard & Poor's) Aug. 7, 2008--Standard & Poor's Ratings Services today raised its ranking on Wachovia Mortgage FSB (Wachovia), a wholly owned, indirect subsidiary of Wachovia Corp., to STRONG from ABOVE AVERAGE as a residential mortgage loan servicer. The outlook is stable. The ranking is based on the company's experienced management team, solid infrastructure, robust and comprehensive employee training and development programs, and efficient, effective use of technology in its well-automated mortgage loan servicing environment. Wachovia has sound loss mitigation techniques and appropriately assertive collection strategies. The company's management places significant focus on employee education, development, and retention and on its internal auditing and quality control programs. In addition, Wachovia's well-documented policies and procedures form a sound foundation...

Companies mentioned in this report are: Wells Fargo South Central N.A.
Action: Servicer Ranking
Action: Upgraded

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Wells Fargo South Central N.A.

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