Fitch Publishes Fourth Edition of U.S. RMBS Servicer Handbook

NEW YORK--(BUSINESS WIRE)-- Fitch Ratings has published its fourth U.S. RMBS Mortgage Servicer Handbook, which includes quarterly servicer-provided data through December 2015.

Observations from this latest release include:

--Subprime delinquencies decreased to 10.1% from 11.2% for banks and to 30.5% from 34.5% for nonbanks, year over year. Additionally, servicers reduced FTEs over the one year period; the average reduction at banks was 11% and non-banks was 9%.

--The one year period also saw a decrease in the usage of modifications and repayment plans as loss mitigation alternatives.

--BONY Mellon doubled its master servicer portfolio due to the addition of P&I reconciliation activities for 116,000 GSE loans.

The Handbook continues to provide detailed entity-specific information on most Fitch-rated RMBS servicers, as well as a comprehensive rating and outlook report.

Handbook details include a description of all Fitch-rated RMBS servicers, their current servicer ratings and key rating drivers, portfolio size and key attributes, important trends, links to the full RMBS servicer reports, and Fitch analyst contact information.

The U.S. RMBS Mortgage Servicer Handbook is available at 'www.fitchratings.com' or by clicking the above link.

Additional information is available at 'www.fitchratings.com'.

U.S. RMBS Servicer Handbook (Servicing At A Glance)https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=879064

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160316006461/en/

Fitch Ratings
Natasha Aikins, +1-212-908-0272
Director
33 Whitehall Street
New York, NY 10004
or
Roelof Slump, +1-212-908-0705
Managing Director
or
Media Relations:
Sandro Scenga, +1-212-908-0278
New York
[email protected]

Source: Fitch Ratings

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