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May 29 (Reuters) - (The following statement was released by the rating agency)
Fitch Ratings has made several notable enhancements to its May 2014 US residential mortgage servicer snapshot report. The report, which contains key information for most of the active RMBS servicers, has been enhanced to include:
--An expansion by 20% of the servicer coverage by transaction; Fitch now provides servicer information on over 89,300 cusips;
--The inclusion of servicer type identifiers, which indicate primary, subservicer, and specialty servicers at the transaction level, as provided by servicers to Fitch as of the end of first-quarter 2014 (1Q‘14);
Additionally, the May report includes the following updates;
--Detail on First Republic Bank’s servicing operation (newly rated by Fitch);
--Link to the updated Bank of America Servicing Report;
--Link to the updated Roundpoint Mortgage Servicing Report; and
--Updates to servicer portfolio statistics through 1Q‘14.
Fitch’s servicer snapshot reports provide a description of all Fitch rated servicers, current servicer ratings and key rating drivers, portfolio size per servicer and trend information, and analyst contact detail and links to full RMBS servicer reports. The snapshot also provides the names of RMBS servicers currently assigned to transactions in an easy to use cusip reference format.
Fitch plans to provide regular updates to the report, including any rating actions or significant servicer changes. All portfolio size data is updated on a quarterly basis. The servicer snapshot is available at ‘www.fitchratings.com’ or by clicking the below link.
Link to Fitch Ratings’ Report: Fitch Enhances its Tracker of US RMBS Servicer Activity