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Article: Roundup: National City Assigned Residential Ratings.(National City Home Loan Services)(Brief Article)
- Article from:
- Mortgage Servicing News
- Article date:
- November 1, 2004
CopyrightCOPYRIGHT 2004 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Moody's Investors Service has assigned National City Home Loan Services ratings as a primary servicer of subprime residential mortgage loans, primary servicer of second liens and as a special servicer.
Moody's assigned ratings of "SQ2" for primary servicing of subprime product and second lines while giving National City an "SQ3" rating as a special servicer.
Moody's said the ratings are based on above-average collection abilities, average loss mitigation results, above-average foreclosure and REO timeline management, and above-average servicing stability.
Moody's also noted that the servicer is a wholly owned subsidiary of National City Corp., ...