Acenden’s UK servicer ratings upgraded by Fitch
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Mortgage servicer Acenden has had its UK residential primary servicer rating for prime and sub-prime mortgages upgraded to RPS2.
It has also had its UK residential special servicer rating upgraded to RSS2.
Fitch claimed a number of improvements had been made since the agency last visited Acenden in July 2010 and say the latest upgrades reflect continued improvements in Acenden’s technology platform and risk management programme.
The agency also said the company’s strong risk management culture is more akin to that observed in major financial services organisations with higher risk profiles.
Martin Frazer, commercial director from Acenden, says: “We are delighted with our latest ratings review from Fitch, which quickly follows in the footsteps of an upgrade in September last year, meaning that we have had a two notch increase in less than 12 months.
“A number of key strengths were highlighted by Fitch, including the recent launch of our self service customer website, which is unique amongst third party mortgage administrators.”
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