Strong Ratings Action For Freddie Mac’s Multifamily Loan Servicing Unit

Fitch Ratings has assigned Freddie Mac Multifamily an initial commercial mortgage-backed securities (CMBS) master servicer rating of CMS2 and affirmed the existing special servicer rating of CSS2-.

The CMS2 rating is the highest initial rating ever assigned by Fitch for a master servicer, the company says.

The ratings reflect the ability of the Freddie Mac Multifamily business to service and work out loans backed by apartment buildings with five or more units and acquired from its seller/servicer network.

‘Both ratings consider the company's strong management team, efficient use of technology, financial strength [and] knowledge of the multifamily lending environment combined with the support of its seller/servicer network,’ Fitch says.

This is Freddie Mac Multifamily's fourth rating for its asset management capabilities. In October, it received a commercial mortgage special servicer ranking of MOR CS2 and a commercial mortgage trust advisor ranking of MOR TA3 from Morningstar Credit Ratings LLC. In June 2013, the company received a commercial loan master servicer ranking of Above Average from Standard & Poor's. In November 2012, it received an CMBS special servicer rating of CSS2- from Fitch Ratings.


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