Fitch Ratings affirmed Specialized Loan Servicing, LLC's (SLS) U.S. residential primary and special servicer ratings as follows:
- Primary servicer rating for Alt-A product affirmed at ‘RPS2+’'; Outlook Stable;
- Special servicer rating affirmed at ‘RSS2+’; Outlook Stable;
- Primary servicer rating for Subprime product affirmed at ‘RPS2+’; Outlook Stable;
- Primary servicer rating for Prime product affirmed at ‘RPS2’; Outlook Stable;
- Primary servicer rating for HELOC product affirmed at 'RPS2'; Outlook Stable;
- Primary servicer rating for Second Lien product affirmed at 'RPS2'; Outlook Stable.
The ratings are reflective of SLS’ growth strategy, continued investments in systems and processes, strong management and staff and the use of integrated technology.
During this review period, SLS completed several enhancements to its loss mitigation, telephony and loan boarding systems. SLS made several improvements to its customer service with the introduction of new systems and processes, increased cross-training and performance based compensation.
SLS has demonstrated ongoing investments in regulatory compliance and strengthened its internal audit control framework. In addition, the company increased the frequency of its quality control/quality assurance reporting and has instituted effective monitoring to effect timely remediation.
For more information, please visit the full press release here.