S&P upgrades HML

HML, has been awarded an upgrade to Above Average for its special servicing by Standard & Poor’s, which means no other UK servicer holds a higher rating for primary or special mortgage servicing.

S&P’s announcement follows a special servicing upgrade to RSS2- from Fitch on September 1.

In affirming HML’s primary servicer rating at Above Average, the international ratings agency highlighted HML’s ability to seamlessly board mortgage portfolios as a particular area of strength, as well as increased oversight in audit and risk, additional system enhancements and a programme of diversification in its operations, supported by increased marketing activity.

Brian Brodie, chief executive officer at HML, says: “Special servicing has delivered real benefits for our clients that have been recognised by both of the independent ratings agencies. The fact there is not a servicer ranked higher by S&P in the UK is testimony to the hard work, innovation and professionalism of the team.

“Improvements to the analytical capabilities of the special servicing team are scheduled and they will further strengthen HML’s position as a market leader.

“I was also pleased to see that S&P noted our investment in developing and enhancing our IT capabilities, which remains a core element of our service to clients. Additionally, as the market continues its recovery, our ability to effectively board mortgage accounts will give confidence to existing and potential clients.”