An Insider’s Look Into How Secondary Marketing Evaluates LOs

In this webinar we’ll explore the long-term financial impacts of renegotiations, extensions and fallouts, plus basic guidelines to be viewed as a professional by your secondary marketing department

HousingWire Annual Virtual Summit

Sessions from HousingWire Annual 2021 are going to be virtually streamed on October 25. Register now for FREE to tune into what housing industry leaders had to say this year!

How servicers can access timely, accurate data insights

Learn how to navigate the challenges in today’s market – for example, the need for ongoing, on-demand access to near-real-time data and the ability to access those data insights in a timely and accurate manner.

Steve Murray on new brokerage models, CFPB crackdowns

Today’s HousingWire Daily features a discussion on the emergence of a new brokerage model and the validity behind the concerns against institutional investors.

Politics & Money

Aurora Loan Services Resi Servicer Ratings Affirmed

Fitch Ratings has affirmed Aurora Loan Services L.L.C.’s ‘RPS2+’ residential primary servicer rating for Alt-A products and its ‘RSS2-‘ residential special servicer rating, the rating agency said in a statement today. In addition, Fitch said it has affirmed Aurora’s residential master servicer rating of ‘RMS1-‘. With servicing offices located in Scottsbluff, NE, Littleton, CO, and Mumbai, India, Aurora is a subsidiary of Lehman Brothers Holdings Inc. and has been servicing Alt-A loans for over eight years. The Littleton facility consists primarily of special servicing, cash management, investor relations and master servicing functions while primary servicing functions and loan document imaging are handled out of the company’s Scottsbluff location. The satellite office in Mumbai continues to handle production support activities. In April 2006, Aurora broke ground on a new 175,000 square foot facility in Scottsbluff. The facility is expected to be complete in the third quarter of 2007 and has planned capacity for 900 employees.

As of June 30, 2006, Fitch reported that Aurora primary portfolio of nearly 426,000 loans totaled over $84.7 billion. As of July 31, 2006, Aurora master serviced over 1 million loans totaling nearly $181 billion, a 17 percent increase over the prior year. During the year, Aurora experienced significant changes in senior management across the servicing division. In November 2005, Terry Gentry joined the company as EVP Loan Administration, responsible for all areas of servicing. Gentry has more than 30 years of industry experience and upon his arrival reorganized the servicing departments as well as hired two new seasoned managers to oversee the loan administration and default management areas. In addition, an administrative office was created in an effort to more effectively control project management, reporting, system administration and contract administration for the division. 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 (-) symbols, as well as the flat rating. For more information on Fitch’s residential servicer rating program, see the Fitch report ‘Residential Mortgage Servicer Ratings,’ dated Nov. 29, 2006, which is available on the Fitch Ratings web site at www.fitchratings.com.

Most Popular Articles

FHFA to make desktop appraisals permanent

Desktop appraisals, a temporary flexibility implemented in March 2020 amid lockdowns and social distancing, will become permanent, the FHFA said today.

Oct 18, 2021 By

Latest Articles

Rocket Mortgage makes another push for brokers

Rocket Mortgage is now connecting homebuyers with real estate agents and mortgage brokers through its growing Rocket Homes portal. Here’s what else the lender is doing to woo brokers. HW+ Premium Content

Oct 19, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please