May 14, 2012 / 9:35 PM / 6 years ago

Fitch downgrades GMAC-RFC's u.s. residential master servicer rating

May 14 (Reuters) - NEW YORK, May 14 (Fitch) Fitch Ratings
has downgraded the U.S. residential mortgage master servicer
rating of GMAC-RFC, LLC (RFC) as follows: --U.S. residential
master servicer rating downgraded to 'RMS4' from 'RMS3'. The
rating downgrade is due to the bankruptcy filing by RFC's
parent, Residential Capital LLC (ResCap), on May 14, 2012. Fitch
had placed RFC's servicer rating on Rating Watch Negative on
April 19, 2012. Fitch rates residential mortgage primary,
master, and special servicers on a scale of 1 to 5, with 1 being
the highest rating. Within some of these rating levels, Fitch
further differentiates ratings by plus (+) and minus (-) as well
as the flat rating. For more information on Fitch's residential
servicer rating program, please see Fitch's report 'U.S.
Residential and Small Balance Commercial Mortgage Servicer
Rating Criteria', dated Jan. 31, 2011, which is available on the
Fitch Ratings web site at ''.
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