VIRGINIA BEACH, Va., March 2, 2017 /PRNewswire/ -- LoanCare announced today that its primary servicer and specialty sub-servicer ratings have been affirmed by Fitch Ratings at 'RPS2-' with a stable outlook.
Fitch cites LoanCare's "strong systems and technology, well developed risk management controls, and enhanced management and staffing." The ratings also reflect the financial strength of LoanCare's ultimate parent company, Fidelity National Financial, Inc.
"On behalf of LoanCare, we are pleased that Fitch has affirmed our ratings," said Dave Worrall, president of LoanCare. "LoanCare is committed to a philosophy of Service that Exceeds Expectations – anticipate, meet and exceed customer and client needs every time. Our culture ensures that we are constantly providing the best technology, service and compliance for our customers, and this commitment is what contributes to making LoanCare a leader in the industry."
During the review period, Fitch also acknowledged the enhancements LoanCare made to its risk management controls and processes, such as the creation of the chief audit officer position, strengthening its compliance and regulatory oversight functions and the enhanced third-party provider oversight program.
About LoanCare, a ServiceLink company
LoanCare, a ServiceLink company, is a leading national provider of full service subservicing and interim subservicing to the mortgage industry and has offered its expertise and best practices in providing servicing solutions for others since 1991. At the present time, LoanCare subservices approximately 800,000 loans in 50 states, totaling $170.3 billion in loan balances. LoanCare has a seasoned loan servicing team with senior managers averaging nearly 30 years of experience in the mortgage and financial services industry.
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