National reverse mortgage subservicer Celink today announced it has affirmed an “Above Average” rating from Standard & Poors—the world’s largest index provider and global source of independent credit rankings.
In its full report on Celink, which is yet to be made public, S&P pointed to several qualities maintained by the subservicer including ability to increase its portfolio; experienced management team and staff with low turnover; well written policies and procedures; dual levels of auditing; very good call center metrics; and a robust systems environment that was expanded to cover several new proprietary products.
The rating announcement comes on the heels of several downgrades among national mortgage servicers including Nationstar and Ocwen.
“I’m exceptionally proud of our people and processes,” said Celink CEO Jason McNamara. “We continue to innovate in the midst of ongoing product, industry and market change and growth. Our team and platform has become stronger and adaptive as a result and we’re pleased that the S&P report acknowledges it.”
Celink changed ownership earlier this year upon being acquired by investment group Peer Advisors, led by Jim Mahoney, Jason McNamara and Al Benedetti. Peer Advisors has said it plans to grow the organization.
Written by Elizabeth Ecker
