Morningstar Credit Ratings, LLC Affirms Residential Vendor and Residential Component Servicer Rankings; Assigns Residential Vendor Ranking to Green River Capital, LLC

Dec 02, 2015, 09:30 ET from Morningstar, Inc.

NEW YORK, Dec. 2, 2015 /PRNewswire/ -- Morningstar Credit Ratings, LLC today affirmed its 'MOR RV1' residential vendor ranking in the asset management market and its 'MOR RS1' residential component servicer ranking in the loss mitigation market for Green River Capital, LLC (GRC), a wholly owned subsidiary of Clayton Holdings LLC, which is a subsidiary of Radian Group Inc. Morningstar also assigned its 'MOR RV2' residential vendor ranking to GRC for single-family rental property management and surveillance services. The forecast for all rankings is Stable.  

The assigned rankings reflect Morningstar's assessment of GRC's operational infrastructure and client-driven performance results in its respective duties as a residential component servicer, asset manager for real-estate-owned properties, and single-family rental property management and surveillance. The Stable forecast for all rankings reflects solid vendor performance for GRC's client base deriving from a tenured management team, highly flexible technology environment, comprehensive internal performance monitoring and measurement, a pervasive enterprisewide risk-management infrastructure, and a focus on client-driven performance results. GRC benefits from a comprehensive quality-control and performance-driven culture within the organization, arising from a solid training regimen, comprehensive policies and procedures, and proactive vendor-management protocols that includes effective vendor management oversight for selecting, qualifying, and assessing agent performance.

In 2015, the company unveiled its Rental Asset Management and Performance (RAMP) platform. The RAMP platform is an extension of and complement to GRC's existing suite of services to the single-family rental securitization industry that includes collateral review and property management services. The platform aggregates and standardizes single-family rental transaction information and monthly rental property-level performance data for a variety of single-family rental residential stakeholders including property owners, investors, servicers, property managers, lenders, and securitizers.

The features listed above provide a solid competitive foundation as GRC continues to integrate best practices and leverage synergies with its parent companies, Clayton Holdings and Radian Group.

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About Morningstar Credit Ratings, LLC and Morningstar, Inc.
Morningstar Credit Ratings, LLC is a Nationally Recognized Statistical Rating Organization (NRSRO) offering a wide array of services including new-issue ratings and analysis, operational risk assessments, surveillance services, data, and technology solutions.

Morningstar Credit Ratings, LLC is a subsidiary of Morningstar, Inc. (NASDAQ: MORN), a leading provider of independent investment research in North America, Europe, Australia, and Asia.

Morningstar, Inc. offers an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. Morningstar provides data on more than 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 17 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $170 billion in assets under advisement and management as of Sept. 30, 2015. The company has operations in 27 countries. Morningstar, Inc. is not an NRSRO and does not issue NRSRO credit ratings.

Morningstar rankings, forecasts, and assessments contained in this press release are not assessments of the creditworthiness of an obligor or a security and thus are not credit ratings subject to NRSRO regulations. 

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