Fitch Ratings said Friday that it had upgraded privately-held Taylor Bean & Whitaker Mortgage Corp.’s U.S. residential servicer ratings; the company’s primary ratings to both prime and Alt-A loan products were raised to ‘RPS3+’ from ‘RPS3.’ Fitch rates servicers on a sliding scale between 1 and 5, with 1 being the highest rating. The rating agency cited TBW’s technology and training programs, as well as a dramatically reduced employee turnover level: the company has reduced its turnover rate to 13 percent from 26 percent in 2007. Headquartered in Ocala, Florida, TBW specializes in the origination and servicing of prime and Alt-A residential mortgage loans. Established in 1982 and privately acquired in 1991, the company is a full-service mortgage banking firm serving community banks and brokers. At the end of last year, TBW serviced more than 359,587 loans totaling $59.9 billion. The company has been servicing residential mortgage-backed securities for more than two years and its current RMBS portfolio totals more than $3.6 billion; the Alt-A servicing portfolio totaled $4.8 billion. For more information, visit http://www.fitchratings.com.
Most Popular Articles
NAR bans “pocket listings”
The National Association of Realtors board of directors voted 729-70 on Monday to ban the controversial practice of “pocket listings.”
Nov 12, 2019
Guaranteed Rate Affinity brings back Jon Altizer
Altizer has previously worked at Guaranteed Rate for nine years.
Nov 15, 2019