Morningstar Credit Ratings, LLC Assigns 'MOR RV2' Residential Vendor Ranking for SWBC Lending Solutions, LLC as a Residential Vendor for Asset Valuation

Aug 13, 2015, 11:54 ET from Morningstar, Inc.

NEW YORK, Aug. 13, 2015 /PRNewswire/ -- Morningstar Credit Ratings, LLC today assigned its 'MOR RV2' residential vendor ranking for SWBC Lending Solutions, LLC, a wholly owned subsidiary of SWBC, as a residential vendor in the asset valuation market. The forecast for the ranking is Positive.

The assigned ranking reflects Morningstar's assessment of SWBC Lending Solutions' tenured management team, effective technology environment, and client-driven performance results. The Positive forecast reflects SWBC Lending Solutions' ability to leverage shared services such as human resources, training, legal and compliance, information technology, and internal audit in conjunction with its corporate parent. 

SWBC Lending Solutions' organization benefits from a comprehensive quality control- and performance-driven culture arising from a solid training regimen, comprehensive and client-specific policies and procedures, internal performance monitoring and reporting, and proactive vendor-management protocols. SWBC has developed a robust grading and score-card system to monitor and measure the company's performance and product quality against service-level agreement goals, enabling senior management to assess capacity and workflow to meet or exceed client benchmarks. 

In October 2014, SWBC Lending Solutions acquired Equi-Trax Asset Solutions LP and Quality Valuation Services (QVS). The integration of the Equi-Trax and QVS businesses, which are now known as SWBC Lending Solutions, has progressed rapidly, and further integration of audit and risk management oversight and technology resources is scheduled to occur in 2016. SWBC has the requisite technology, infrastructure and parent company resources, and diversified product offerings to position the company well for continued growth and market expansion in the valuation services industry.    

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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' rankings, forecasts, and assessments contained in this press release are evaluations and opinions of non-credit-related risks and, therefore, are not credit ratings within the meaning of Section 3 of the Securities Exchange Act of 1934 ("Exchange Act") or credit ratings subject to the Exchange Act requirements and regulations promulgated thereunder with respect to credit ratings issued by NRSROs.

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 16 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 $180 billion in assets under advisement and management as of June 30, 2015. The company has operations in 27 countries.

Morningstar, Inc. is not an NRSRO and does not issue NRSRO credit ratings.

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Media Contact:  Michelle Weiss, +1 267-960-6014 or michelle.weiss@morningstar.com

 

SOURCE Morningstar, Inc.



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