S&P Global Ratings Affirms Above Average Residential Primary Servicer Ranking for LoanCare LLC

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Nov 13, 2019, 10:30 ET

VIRGINIA BEACH, Va., Nov. 13, 2019 /PRNewswire/ -- Building on momentum from additional volume and its continued operational excellence, LoanCare LLC, a ServiceLink company, has once again received an Above Average Residential Primary Servicer Ranking from S&P Global Ratings. The outlook is stable.

Operating in four sites across the U.S., LoanCare is transforming mortgage servicing through its prime portfolio of nearly 1.8 million accounts. S&P Global cited its experienced management team, training program, servicing metrics and average customer service answer time for the favorable ranking.

"LoanCare continues to hire experienced personnel as the portfolio increases while concurrently implementing improvements to the operation affecting technology, internal controls and other areas," S&P said in a release. "These varied developments should increase efficiencies and allow it to proactively service its customer base."

In addition to opening a new site in Pittsburgh and a large bulk transfer in Q2 of 2019, S&P noted other positive business developments including an improved website and mobile application and enhanced self-service capabilities for customers.

"We are proud of this sustained confidence in our rating from S&P," said Dave Worrall, President of LoanCare. "Our portfolio grew substantially over the past six months and this recognition underscores our commitment and dedication to streamlined operations to fit any client need."

About LoanCare
LoanCare is top national provider of full service subservicing, component subservicing and interim subservicing to the mortgage industry and is also leading the industry in engineering agile technology solutions to provide a superior customer experience. Presently, LoanCare subservices nearly 1.8 million loans in all 50 states, approximating $363.3 billion in loan balances. LoanCare has a seasoned loan subservicing team with senior managers averaging nearly 30 years of experience in the mortgage and financial services industry. To learn more about LoanCare, please visit https://www.loancareservicing.com/.

SOURCE LoanCare