Crown Mortgage Management upgraded by Fitch
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Fitch Ratings has upgraded UK mortgage servicer Crown Mortgage Management to 3+ across its residential and commercial, primary and special servicing.
This includes a rating of ’RPS3+(prime)’, ’RPS3+(subprime)’ and ’RSS3+’ for its UK Residential Primary Servicer and Special Servicer ratings, and an upgrade to, ‘CPS3+’ (small loans)and ‘CSS3+’ (small loans) for its UK Commercial Primary and Special Servicer ratings in relation to the management of UK residential and commercial mortgage loans.
Fitch recognised the growth and enhancements made to Crown’s servicing proposition. In particular, Fitch noted Crown has shown strong performance in the residential loans sector, and pointed to this as a key driver for the business’ success.
Eric Stoclet, CEO for Crown Mortgage Management, says: “Fitch recognises our merit as a mortgage servicer and strength in the company’s financials, staff expertise, and breadth of portfolios. We have been able to grow assets under management in a difficult environment. The ratings upgrade is further evidence that Crown’s business strategy is working.
“As the Fitch report highlights, we have strengthened our management and business development teams, giving us significant bench strength and experience. This puts us in a strong position in the market place as we look to grow the business. The upgrade gives our clients added confidence that we will continue to stand shoulder to shoulder with them throughout the challenging economic climate.”
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