Ratings reflect RCS's highly experienced management and focused default management practices

NEW YORK, Aug. 5 /PRNewswire/ -- Residential Credit Solutions, Inc. ("RCS") today announced that Fitch Ratings has assigned the Firm a U.S. Residential primary servicer rating.

Fitch assigned RCS a primary servicer rating for subprime product of 'RPS3-'. In its announcement Fitch said: "The ratings reflect RCS's highly experienced senior management team, effective loan administration processes and focused default management practices. RCS maintains a very seasoned management team across all functions within the company, many with shared prior experience in the acquisition and management of residential mortgage loans. RCS employs integrated technology and automation throughout the servicing platform and maintains sophisticated default management systems for decision support, timeline tracking and vendor communications."

Founded in December 2006 in anticipation of the mortgage crisis, RCS is a fully licensed, integrated mortgage investment and servicing company exclusively focused on servicing, managing and purchasing credit-sensitive and servicing-intensive residential mortgage loans. RCS currently manages approximately $1.1 billion in performing and non-performing residential mortgage loans, with proven capacity to service in excess of 60,000 loans or approximately $10-$15 billion in residential mortgage loans and has over 120 employees in offices in Fort Worth, Los Angeles and New York, NY.

CEO Dennis Stowe has over 25 years experience in mortgage servicing. As former President and COO of Saxon Capital, Stowe built that company's sub-prime mortgage servicing operation into a platform of 300 professionals managing approximately $12 billion in assets.

"RCS's best-in-class servicing platform was created in anticipation of the mortgage crisis with specialized capabilities and available capacity. RCS provides our clients with specialized servicing capabilities that have proven effective in contacting delinquent and at-risk borrowers and working with them to resolve loans and reduce losses," said Mr. Stowe. "We are pleased that Fitch has recognized RCS for our servicing capabilities and loss mitigation experience in servicing-intensive mortgage assets."

RCS has established a proactive approach to loan administration and loss mitigation by limiting the caseload of each servicing professional and shortening response time to borrowers requesting workouts.

RCS was formed by an institutional investor group led by private equity firm Equifin Capital Partners, Och-Ziff Capital Management Group and other institutional investors.

About Residential Credit Solutions:

Residential Credit Solutions is an integrated residential mortgage investment and servicing company focused on credit-sensitive and servicing-intensive mortgage assets. The Company is headquartered in Fort Worth, TX and also has operations in Los Angeles, CA and New York, NY. For more information about RCS call (682) 647-2500 or visit www.residentialcredit.com.

About Equifin Capital:

Equifin Capital Partners is a New York-based private equity firm focused on investments in consumer and commercial finance, asset servicing, capital asset management and other related sectors of the financial services industry. Equifin Capital's principals have been responsible for over $1.8 billion in equity investments in start-ups, turn-arounds, buyouts and growth equity transactions. Equifin Capital combines private equity investment capabilities with the operating backgrounds of its principals at leading global financial services firms and extensive capital markets relationships. For more information about Equifin Capital, visit www.equifincapital.com.

About Och-Ziff Capital Management

Och-Ziff Capital Management Group LLC is one of the world's largest institutional alternative asset managers with offices in New York, London, Hong Kong, Tokyo, Bangalore and Beijing. The Company's funds seek to deliver consistent, positive, risk-adjusted returns throughout market cycles, with a strong focus on capital preservation. The Company's multi-strategy approach combines global investment strategies, including merger arbitrage, convertible and derivative arbitrage, equity restructuring, credit and distressed investments, private investments and real estate. As of August 1, 2009, the Company had approximately $21.5 billion in assets under management with approximately 600 investor relationships. For more information, please visit www.ozcap.com.

SOURCE Residential Credit Solutions, Inc.

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