Nationstar Rating Removed from Watch
Fitch removes servicer rating from rating watch evolving
June 9, 2010
By MortgageDaily.com staff
The subprime servicer rating at Nationstar Mortgage LLC has been removed from a watch list.
Fitch Ratings announced the move today.
According to the New York-based ratings agency, Nationstar’s RPS2- primary servicer rating for subprime product was removed from “rating watch evolving.”
Fitch cited the Lewisville, Texas-based servicer’s improving financial profile.
“Nationstar has maintained or improved its operational standards while addressing today’s high delinquency environment,” Fitch added.
The 13-year-old subsidiary of Fortress Investment Group serviced 226,000 loans for $33.1 billion as of May 31. Around 70 percent of the loans were serviced for Fannie Mae.
