American Mortgage Consultants Added to S&P's Third-Party List
[Update 1: Clarifies relationship between AMC and S&P] Credit rating agency Standard and Poor’s (S&P) will add Libertyville, Ill.-based American Mortgage Consultants (AMC) to its upcoming list of firms that meets its criteria for third party due diligence reviews of US residential mortgage-backed securitizations (RMBS). S&P conducted a review of AMC’s background, systems, capacity, personnel, policies and procedures in approving the firm for the reviews. The ratings agency’s analyses of mortgage pools include due-diligence reviews to increase data integrity and transparency and to improve the process of rating RMBS. “We are pleased that Standard & Poor’s has recognized AMC as a mortgage due-diligence firm with the expertise and infrastructure needed to provide high-quality loan level reviews which are essential in today’s marketplace,” said AMC president Peter Kempf. Write to Austin Kilgore.