Standard & Poor’s Ratings Services has raised its ranking of Reverse Mortgage Solutions (RMS) from "above average" to “strong."
The ranking is one of the highest assigned to a mortgage servicing operation – forward or reverse - according to the New York-based ratings agency, which further praises RMS for its “strong management team, advanced technology and financial stability.” RMS offers technology and consulting services to the mortgage market and a loan origination platform that is specific to the reverse mortgage loan product.
S&P stated that it awarded the raised ranking “based on our assessment of the company's management team, which we consider to be knowledgeable and increasingly experienced, a superior and robust systems environment, and very effective internal controls.” The agency also took note of RMS's “sound policies and procedures, astute business strategies, and proactive reaction to evolving loan type specific issues, risk aversion, and an overall ability to effectively administer reverse mortgage loans, particularly in the area of systems management.”
Robert Yeary, RMS chairman and CEO said: “The management and employees are extremely pleased to earn this ranking, which is a result of employee hard work and dedication, as well as our outstanding technology. Four years ago, my partners and I founded RMS with a goal of creating a company that could perform at the highest levels of quality and efficiency. I believe the recent “strong” rating from S&P validates that we are achieving that goal.”
Source: Press Release