Standard & Poor's (S&P) has raised the primary and special servicer ratings for Residential Credit Solutions Inc. (RCS) to above average, with a stable outlook.
According to S&P, the ratings upgrade reflects RCS' tenured management team, due diligence and portfolio analytics, and what S&P considers to be a ‘pervasive risk mitigation environment, as well as a highly effective technology environment.’
RCS, which has doubled its servicing portfolio over the past 18 months, is ‘well situated to opportunistically bid on and/or subservice distressed assets and to continue to effectively execute their business strategy,’ S&P says.
Founded in December 2006, Fort Worth, Texas-based RCS currently manages approximately $8 billion in performing and nonperforming residential mortgage loans and has over 225 employees in offices in Fort Worth, Los Angeles and New York.
SOURCE: Residential Credit Solutions