Standard & Poor's (S&P) Ratings Services' Servicer Evaluations group has launched new lending servicing industry reports that will provide a detailed view of all mortgage market segments, including subprime and Alt-A loans. The biannual ‘Servicer Evaluation Spotlight Report’ contains the industry's most extensive array of aggregated servicer performance data, including a full range of servicer metrics that only S&P could provide, the agency says.
‘The Servicer Evaluation Spotlight Report aggregates performance statistics across a range of relevant servicer functions, such as escrow administration, loss mitigation, default management and the management of adjustable-rate mortgage reset and loan modifications,’ says Michael Gutierrez, managing director and head of S&P's Structured Finance Servicer Evaluations group. ‘It offers valuable transparency into the mortgage servicing industry for investors, servicers and anyone interested in knowing what is happening on the industry's front lines.’
The Servicer Evaluations Spotlight Report details the mortgage loan administration performance of approximately 91 U.S. residential mortgage lenders. The residential mortgage servicing industry data contained in the report were collected solely through S&P's servicer evaluation analytical methodology data collection process, which contains more than 4,000 fields of servicing data for each client.
A summary of the inaugural report is available on RatingsDirect, the real-time Web-based source for S&P's credit ratings, research and risk analysis, at www.RatingsDirect.com.
