Taylor Bean & Whitaker Mortgage Corp. saw an improvement to its residential servicer rating.
Fitch Ratings has upgraded Taylor Bean's primary servicer rating for prime and Alt-A products to RPS3+, an announcement Friday said. The rating was raised from RPS3.
Ratings range from one to five, with one being the best rating. Plus or minus signs further differentiate the ratings.
Fitch said the Ocala, Fla.-based firm's technology and training investments were a factor in the positive action.
In addition, Taylor Bean's senior management team averages 10 years at the company and 20 years in the industry. Staff turnover has been reduced to 13 percent from 26 percent last year.
The privately-held company -- which was founded in 1982 and acquired in a private transaction in 1991 -- serviced 359,587 loans for $59.9 billion as of Dec. 31, 2007.
Taylor Bean "has a capable servicing platform with integrated technology and established training programs, policies and procedures in place to manage its primary servicing operations," Fitch said.