“We expect unemployment to rise modestly next year, which will likely lead to an equivalent rise in borrower defaults,” saidChris Grimes, a Senior Director at Fitch Ratings. “However, strong borrower credit characteristics and favorable home equity build-up for the majority of homeowners should moderate the frequency and severity of ultimate mortgage insurance claims.”
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Fitch Addresses PHH, Ocwen
As PHH assumes, a mortgage sub-servicing role to Ocwen, Fitch notes how this may impact RMBS.
Read More »Fitch Assigns Additional Servicer Ratings for PHH
After being assigned an RPS3 rating as a residential primary servicer for its prime product in August, PHH was assigned additional servicer ratings by rating agency Fitch. Click through to learn which additional products and operations of PHH were rated and the outlook assigned to them.
Read More »Fitch Upgrades LoanCare’s Servicer Ratings
LoanCare's primary servicer and specialty subservicer ratings have been upgraded with a stable outlook by Fitch Ratings.
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