LoanCare Comments on S&P Affirmation of ABOVE AVERAGE Ranking/Stable Outlook

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Jun 09, 2015, 07:00 ET

VIRGINIA BEACH, Va., June 9, 2015 /PRNewswire/ -- LoanCare, a ServiceLink company, today commented on the affirmation of its ABOVE AVERAGE ranking/Stable Outlook as a residential mortgage primary servicer and as a residential mortgage special servicer by Standard & Poor's Rating Services ("Standard & Poor's).

"In an industry that has become ever more complex and overburdened with regulation, we are pleased to have an affirmation of our Stable Outlook by Standard & Poor's. The report reflects the commitment by the management and employees of LoanCare to establish and implement comprehensive compliance policies and procedures, a robust training program and a complete vendor management program," said Gene Ross, President. "We understand the importance of continued awareness and internal oversight in order to strengthen our role as a premier subservicer."

"Our focus on corporate governance framework, reinvestment of capital to improve infrastructure and technology and the addition of industry-experienced personnel has helped us to foster our goal of continually improving the overall consumer experience, while realizing nearly 30 percent growth in our servicing portfolio. We will continue to enhance our internal audit program and develop and deliver technology enhancements that create efficiencies for both our customers and consumers."

Citing in its report enhanced risk management, technological improvements, implementation of an internal audit function, improved call center metrics, overall competitive SEAM^® metrics, and other observations Standard & Poor's said, "These [improvements] could position it well for future movements in our Management and Organization subranking. We believe LoanCare will remain a competent servicer of residential mortgage assets."

About LoanCare, A ServiceLink Company

LoanCare, a ServiceLink company, is a leading national provider of full-service residential servicing to the mortgage industry, and is ranked second among the top subservicers nationwide. Currently, LoanCare subservices over 550,000 loans for 60-plus clients in 50 states, with more than $110 billion in loan balances. As a company focused on customer satisfaction and loyalty, LoanCare leverages its superior service, technology and best practices to assist lenders, services and investors reach their business objectives. For more information about LoanCare, please visit www.loancareservicing.com.

About ServiceLink, a Black Knight Company

ServiceLink, a Black Knight company, is the premier national provider of transaction services to the mortgage and finance industries. ServiceLink delivers valuation, title and closing and flood services to mortgage originators; end-to-end subservicing to mortgage servicers; and default valuation, default and loss mitigation title and closing, field services and liquidation solutions that support servicer loss mitigation efforts and the foreclosure process.

ServiceLink helps clients in the lending industry and beyond achieve their strategic goals, realize greater efficiencies and better serve their customers by delivering best-in-class technology, services and insight with a relentless commitment to upholding the highest standards of quality, compliance and service. For more information about ServiceLink, please visit www.svclnk.com.

SOURCE LoanCare