Business & Finance
Wed, September 26, 2012
NEW YORK--([ BUSINESS WIRE ])--Fitch Ratings has withdrawn MetLife Home Loans (MLHL), a division of Metlife Bank, U.S. residential servicer ratings as follows:
--Residential primary servicer rating for prime product withdrawn at 'RPS2-'/Outlook Stable;
--Residential primary servicer rating for Alt-A product withdrawn at 'RPS2-'/Outlook Stable.
The rating withdrawal is based on the lack of sufficient information from MLHL to maintain the rating. Management indicated that they are not currently servicing non-agency RMBS loans and this influenced their decision in not providing updated information to maintain their servicer rating.
The ratings being withdrawn had been determined in accordance with Fitch's criteria 'U.S. Residential and Small Balance Commercial Mortgage Servicer Rating Criteria' dated Jan. 31, 2011.
Fitch rates residential mortgage primary, master, and special servicers on a scale of 1 to 5, with 1 being the highest rating. Within some of these rating levels, Fitch further differentiates ratings by plus (+) and minus (-) as well as the flat rating. For more information on Fitch's residential servicer rating program, please see Fitch's report 'U.S. Residential and Small Balance Commercial Mortgage Servicer Rating Criteria', dated Jan. 31, 2011, which is available on the Fitch Ratings web site at '[ www.fitchratings.com ]'.
Additional information is available at '[ www.fitchratings.com ]'. The ratings above were solicited by, or on behalf of, the issuer, and therefore, Fitch has been compensated for the provision of the ratings.
Applicable Criteria and Related Research:
--'U.S. Residential and Small Balance Commercial Mortgage Servicer Rating Criteria' (Jan. 31, 2011).
Applicable Criteria and Related Research:
U.S. Residential and Small Balance Commercial Mortgage Servicer Rating Criteria
[ http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=600065 ]
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