American Home Mortgage Servicing Inc. saw several of its residential servicer ratings upgraded. Much of the servicer’s work is done offshore.
American Home’s primary servicer rating for prime mortgages and Alt-A loans was upgraded to RPS2- from RPS3+ by Fitch Ratings, according to an announcement today.
Fitch also upgraded the servicer’s primary servicer rating for subprime loans to RPS3+ from RPS3.
In addition American Home’s primary specialty servicer rating for closed-end seconds was upgraded to RPS2- from RPS3+, and its special servicer rating upgraded to RSS2- from RSS3+.
The best possible rating is an RPS1+, while the worst is RPS5-.
Fitch cited an experienced management team, upgraded technology platform, and significant enhancements to its loan administration process and default management practices. A new headquarters facility in Coppell, Texas has room for expansion.
“Fitch’s review confirmed that American Home Mortgage Servicing Inc. has the management, staff, technology and effective workout capabilities to manage its primary and special servicing operations,” the ratings agency stated.
In addition to service centers in Jacksonville, Fla., and Irvine, Calif., American Home has a captive offshore site in Pune, India, and operates a bilingual call center capabilities to a vendor site in Guadalajara, Mexico. Around 45 percent of its staff is offshore.
American Home serviced 517,888 loans for more than $102.8 billion as of June 30.
