home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News

 

Mortgage News

HOT Topics

production

servicing

compliance

legal

fraud

secondary

jobs

appraisal

site map

www.loan-academy.com/
twitter linkedin
facebook google+
Search:

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

Servicing News | Servicer Ranking | Delinquency Statistics
Stories about mortgage servicers, delinquency and f o r e c l o s u r e s. Coverage of servicing lawsuits and loan servicing technology.


Ameriquest Servicer Rating Improved

Moody's rates at SQ2

June 14, 2006

By MortgageDaily.com staff


The servicing arm of Ameriquest Mortgage is improving its operations.

The Servicer Quality rating for AMC Mortgage Services as a primary servicer of subprime mortgages was raised to SQ2+, according to an announcement today from Moody's Investors Service.

Moody's said it rates servicers' ability to prevent or mitigate losses "across changing markets." Ratings range from a strong SQ1 to a weak SQ5.

The ratings action for Orange, Calif.-based AMC, the mortgage servicing subsidiary of ACC Capital Holdings, was based on strong collection and strong foreclosure and REO timeline management, Moody's said -- noting loss mitigation abilities were above average and servicer stability was average.

AMC's servicing portfolio of primarily subprime first liens was more than $76 billion as of March 31, 2006, the statement said.

"Of the loans which began the 12-month static pool as current, 10% rolled to a worse stage of delinquency," Moody's said. "Approximately 41% of the loans that began the static pool period as more than 90 days delinquent, ended the period as either cured or in a cash flowing status."

Ameriquest, which recently adopted a new business model for its retail business that shifted branch operations to regional centers, realigned AMC's "Moody's noted, "Over the course of the year, AMC has realigned call center structure, segregating customer service and collections into separate departments," Moody's reported.

"The company has also created a separate group to concentrate on management of loans that it views as higher risk."

AMC has begun modifying delinquent loans, though Moody's noted few mortgages have been modified so far due to stringent policies.

"Lastly, REO was liquidated in an average of 141 days, excluding redemption," the announcement read. "This is one of the shortest REO liquidation periods that Moody's has observed."


Nonprime and Subprime News | Subprime Statistics
Stories about non-QM products. Coverage of subprime, Alt-A and
hard money lending. Home-equity loans and home-equity lines of credit.


Mortgage Backed Securities | MBS News | MBS Statistics
News about commercial and residential mortgage-backed securities. Stories about ratings actions and changes to servicer ratings. Studies and reports about the performance of securitizations and problem vintages and classes. Subprime, Alt-A, home equity and j u m b o analysis.



SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter

MBS

mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders