S&P Report Details Recent U.S. Residential Servicer Performance
Second Spotlight Report Highlights Recent U.S. Residential Mortgage Servicer Performance
(PRWEB) November 13, 2008 -- Standard & Poor's Ratings Services recently published its second Servicer Evaluation Spotlight Report covering the residential mortgage market, which examines the loan administration performance of its ranked loan servicers in this sector. Like the first report, published earlier this year, the new article includes ongoing aggregated performance statistics across a range of servicer functions including loss mitigation, default management, and the management of adjustable-rate mortgage (ARM) resets and loan modifications.
This second edition provides more in-depth analysis of the performance metrics gathered between January and June of this year and their relevance to emerging industry trends. Additionally, we have segmented many of the servicer performance metrics by loan portfolio size so that servicing executives and managers can compare their organizations' performance with comparably sized industry peers.
Standard & Poor's used the data collected solely through its semiannual Servicer Evaluation Analytical Methodology (SEAM) questionnaire to prepare the recent report, which we have prepared to allow the industry to benchmark and trend residential loan servicer performance. We require all residential loan servicers with Standard & Poor's rankings of AVERAGE or higher to fill out this questionnaire twice each year, which we then use to duly assess their performance in the residential mortgage market. For our second report, we primarily used data from Jan. 1, 2008, through June 30, 2008.
The report includes performance data from approximately 35 prime and 35 subprime servicers representing an 85% and 90% residential mortgage market share, respectively. The report is available on RatingsDirect, and is also available for purchase. On RatingsDirect, the report, "Servicer Evaluation Spotlight Report - October 2008," is located under "Global Research Publications." A link for this section can be found in the left column of the RatingsDirect home page. On the "Global Research Publications," locate the report under "Structured Finance Research."
For more information about the Servicer Evaluation Spotlight Report, please visit www.spotlightreport.standardandpoors.com, or e-mail Standard & Poor's U.S. Servicer Evaluations group at servicer_evaluations @ standardandpoors.com. To purchase the full report, please contact Standard & Poor's Client Services at (212) 438-7280 and select option 2.
Standard & Poor's, a division of The McGraw-Hill Companies (NYSE:MHP), is the world's foremost provider of financial market intelligence, including independent credit ratings, indices, risk evaluation, investment research, and data. With approximately 8,500 employees, including wholly owned affiliates, located in 23 countries, Standard & Poor's is an essential part of the world's financial infrastructure and has played a leading role for more than 140 years in providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions. For more information, visit www.standardandpoors.com.
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