Computershare Loan Service’s Specialized Loan Servicing’s “above average” ranking has been reaffirmed by global ratings agency S&P.
S&P reported that Computershare’s U.S. mortgage servicing unit has invested in and matured its technology and operations commensurate with the measured growth of its portfolio and has a “strong internal control environment” and “good servicing performance metrics”.
The ratings agency noted that the company’s “experienced management” team continues to support its operations, and that it believes that it “will remain a capable residential loan servicer for a variety of investors in the marketplace.”
“We’re delighted that S&P have reaffirmed our ratings – particularly as they’ve cited our technology and people as important factors in their decision,” said Tom Millon, CEO of Computershare Loan Services in the U.S..
“As part of an international mortgage servicing company – and global financial leader – our U.S. servicing operation has been able to improve its world-class systems to enhance further the services we provide for our clients.
“On top of this, our training and development programs as well as the sheer breadth of experience at every level of our organization mean that our people are able to use that tech in a way that ensures we are constantly improving standards and finding new ways to work better.”
S&P cited several factors that lay behind its decision, including experienced management and staff members that continue to achieve measured portfolio growth in agency and non-agency products with reduced delinquency rates across the business’ portfolios, a strong focus on systems and workflow automation throughout the loan administration Processes robust call center quality monitoring, strong internal controls with multiple lines of defense, enterprise risk management, and systems automation to support each control function, and a solid combination of board and senior management meeting and committee routines designed to elevate legal, regulatory, and audit risks
S&P also noted that, since its last review of its U.S. servicing operation in May 2018 that Computershare Loan Services had, completed its acquisition of LenderLive Financial Services, improved the training it provides staff members by providing additional alternation between classroom and on-the-job experience and greater support for contact center workers as well as hiring new coaches for new employees , enhanced its customer website to accommodate private-label clients, introduced new systems and technology for its customer service staff and elsewhere, better aligned its foreclosure and loss mitigation departments, and implemented an analytics tool to enhance the pipeline and timeline for foreclosures