Fitch Affirms HomEq Ratings

ys Bank PLC's HomEq Servicing company has had its U.S. residential servicer ratings affirmed by Fitch. The affirmation pertains to the servicer's ratings for Alt-A product (RPS1), subprime product (RPS1) and special servicing (RSS1). The ratings affirmations reflect the continued sound operational performance of HomEq, while recognizing enhancements made over the prior year, Fitch says. Further supporting the affirmations are HomEq's highly tenured and seasoned operating team, its strong compliance and risk management culture, and its continued investment in technologies and systems. HomEq's two member Operating Committee continues to provide strategic direction and day-to-day management, while supported by its 12-member Management Committee, which comprises senior HomEq leaders. There has not been any turnover in senior management over the prior year. HomEq has focused on cross-training its staff to maximize efficiency, automating decisioning tools in its default areas and combining teams to achieve maximum economies of scale and flexibility, the rating agency adds. SOURCE: Fitch


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