Shellpoint Mortgage Servicing earns positive scores from top rating organizations in 2015
January 29, 2016
Greenville, SC (January 29, 2016) For over a century, the “Big Three” nationally recognized statistical rating organizations (NRSROs)—Fitch Ratings, Moody’s Investors Service, and Standard & Poor’s—have analyzed and rated financial-services companies. In 2015, after extensive due diligence, all three gave Shellpoint Mortgage Servicing (SMS) positive ratings for primary and special servicing of U.S. residential mortgages:
- Fitch Ratings: In April, Fitch awarded SMS a primary servicer rating of “RPS3+” and a special servicer rating of “RSS3+,” with an outlook of “stable.” The positive ratings and outlook are based on SMS’ experienced management team, advanced technology, effective risk-management practices, and success in recruiting and retaining experienced staff (to learn more, refer to the Fitch news release). In June, Fitch followed up with a detailed, 11-page report profiling SMS.
- Moody’s Investors Service: In May, Moody’s published a 19-page report awarding SMS a quality assessment of “SQ3+” for primary servicing and “SQ3”for special servicing. Both ratings are keyed to SMS’ success in collections, loss mitigation, foreclosure management, and loan administration.
- Standard & Poor’s Ratings Service: In October, S&P published a 14-page report reaffirming its “Above Average” rating and “stable” outlook for SMS in primary and special servicing. S&P’s ratings are based on SMS’ experienced leadership team, solid quality control, new technology, and improved efficiency.
“We’re very pleased that the Big Three are recognizing us for quality,” said Michael Keaton, Executive Vice President at SMS. “We’ve invested heavily in our people, our technology, and our business efficiency—and it’s gratifying to see that the top NRSROs are acknowledging our success.”
About Shellpoint Mortgage Servicing
Shellpoint is one of the largest non-bank servicers with over 1.7 million residential mortgage loans. Shellpoint has offices throughout the United States, including Greenville, South Carolina; Houston, Texas; Tempe, Arizona; and Jacksonville, Florida. Shellpoint’s clients include leading banks, loan originators, and real estate investment trusts (REITs). Shellpoint’s ongoing success is grounded in its ability to deliver superior asset performance and to develop creative and practical solutions for homeowners in need. Shellpoint is proud to be part of NewRez LLC (“NewRez”). NewRez is owned by New Residential Investment Corp. (NYSE: NRZ), a publicly traded REIT that invests in and actively manages residential real estate investments.
Contact:
Jennifer Lynch
Sr. Business Communications Mgr.
jennifer.lynch@shellpointmtg.com
864-248-6700
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