NEW YORK--(Business Wire)--
Fitch Ratings affirms Ocwen Loan Servicing LLC's (Ocwen) commercial
mortgage-backed securities (CMBS) servicer rating as follows:
--Special servicer rating at 'CSS2-'.
The servicer rating is based on the methodology described in Fitch's reports
'U.S. Commercial Mortgage Servicer Rating Criteria,' dated June 19, 2009, and
'Global Rating Criteria for Structured Finance Servicers' dated Sept. 30, 2009,
available on Fitch's web site 'www.fitchratings.com'.
The special servicer rating reflects Ocwen's experienced and tenured asset
management staff, its commitment to technology, and its continued dedication to
employee training. As of Sept. 30, 2009, Ocwen was the named special servicer
for 23 commercial loans totaling $359.8 million, of which $21.8 million was
CMBS. At the same date, Ocwen was managing 264 non-CMBS REO properties, valued
at $231.6 million.
Fitch rates commercial mortgage primary, master, and special servicers on a
scale of 1 to 5, with 1 being the highest rating. Within each of these rating
levels, Fitch further differentiates ratings by plus (+) and minus (-) as well
as the flat rating.
Additional information is available at 'www.fitchratings.com'.
ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS.
PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK:
HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING
DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S
PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND
METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF
CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE
AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF
CONDUCT' SECTION OF THIS SITE.
Fitch Ratings, New York
Alyson Weems, +1-212-908-0305
Eric Rothfeld, +1-212-908-0761
Media Relations, New York
Sandro Scenga, +1-212-908-0278
sandro.scenga@fitchratings.com
Copyright Business Wire 2009
