LoanCare's Rating Reaffirmed by S&P Global

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Jun 05, 2017, 11:30 ET

VIRGINIA BEACH, Va., June 5, 2017 /PRNewswire/ -- LoanCare, a ServiceLink company, today announced its rating has been reaffirmed and maintained its Above Average ranking as a residential mortgage primary servicer and as a residential mortgage special servicer from S&P Global. The outlook is stable for both rankings.

According to S&P Global, the rankings reflect, among other items, LoanCare's "fine quantitative metrics, an improving internal control environment, satisfactory systems, and well-developed policies and procedures."

The report states: "LoanCare has well-designed and evolving internal controls, experienced management and staff, and competitive servicing metrics that generally compare well against similar peers. The company successfully increased its portfolio over approximately the past 12 months while also implementing changes to its infrastructure to accommodate its growth. The control environment is further improving with the introduction of a company IA program. Together, these factors should keep LoanCare in an advantageous position when competing in the subservicing arena against new entrants and existing competitors."

"We are pleased that LoanCare's rating has been reaffirmed and has been recognized with Above Average rankings from S&P Global," said Dave Worrall, president of LoanCare. "These positive ratings reflect our company culture that focuses on providing service that exceeds expectations through quality customer service, compliant practices and innovative technology."

About LoanCare, a ServiceLink company

LoanCare, a ServiceLink company, is a leading national provider of full service subservicing and interim subservicing to the mortgage industry and has offered its expertise and best practices in providing servicing solutions for others since 1991. At the present time, LoanCare subservices approximately 1 million loans in 50 states, approximating $200 billion in loan balances. LoanCare has a seasoned loan servicing team with senior managers averaging nearly 30 years of experience in the mortgage and financial services industry.

SOURCE LoanCare