ABN AMRO Mortgage Group Inc. received another servicing ratings upgrade.
Fitch Ratings announced it upped the residential master servicer rating of the Michigan-based company to RMS3+ from RMS3.
Servicers are rated on a scale of 1 to 5, with 1 being the highest rating, and are further differentiated by a plus, minus and flat rating.
Fitch said the upgrade reflects ABN AMRO's ability to effectively oversee and monitor the loan accounting, investor reporting, and default management of its primary servicers. The new rating is also reportedly due to efficient use of technology and the ongoing development of its master servicing platform through experienced staff additions and servicer oversight enhancements.
Fitch's action follows an announcement last month by Moody's that it had upgraded the ratings of ABN AMRO's master servicing unit, LaSalle Bank N.A., to SQ3 from SQ3- due to above average reporting and remitting processes, among other reasons.
ABN AMRO, which operates three servicing platforms, serviced $212 billion in loans as of April 30, 2006, of which $7.9 billion were master serviced -- compared to $1.8 billion at the end of July 2005.