Servicer Evaluation: Residential Credit Solutions Inc. Aug 11
Standard & Poors, August 2011
Abstract
Residential Credit Solutions Inc. (RCS), a wholly owned subsidiary of RCH LLC, has an ABOVE AVERAGE ranking as both a residential mortgage subprime servicer and residential mortgage special servicer. The ABOVE AVERAGE rankings reflect our view of the company's tenured management team, pervasive risk mitigation environment, due diligence and portfolio analytics, and what we consider to be a highly effective technology environment. In our opinion, the company has an appropriately proactive methodology for its default practices, including loss mitigation initiatives. Management appears to have developed a comprehensive special servicing business plan, and in our view, has been able to opportunistically grow the loan servicing portfolio through various joint ventures, doubling the loan servicing portfolio in a challenging market. Management indicates...
Companies mentioned in this report are: Residential Credit Solutions Inc.
Action: Affirmed
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
Residential Credit Solutions Inc.
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