Financial outsourcer HML, a subsidiary of Skipton Building Society, has been upgraded by Fitch for the second year running.
It has had its primary servicer rating affirmed at RPS2+ for prime and sub-prime UK residential mortgages.
At the end of 2010, HML’s special servicing team, which had been upgraded to RSS2-, were servicing nearly 40,000 loans worth almost £5bn and HML’s primary servicing portfolio was made up of more than 336,000 mortgages valued at £36.9bn.
In upgrading HML’s special servicer rating, Fitch cited as key factors the industry experience of HML’s senior management as well as “continued improvements to operational performance surrounding the management of defaulted mortgage loans”.
Fitch acknowledged HML’s 23 years of experience in administering UK mortgages.
Brian Brodie, HML’s chief executive officer, pictured, said: “Special servicing is an area of our business that continues to deliver real value for our clients, and it is great that Fitch have followed last year’s unprecedented double upgrade with a further upgrade this year.
“We have worked intelligently to create innovative strategies that have a significant positive impact on our clients’ mortgage portfolios.
“I’m encouraged by Fitch’s rating and I’m confident that further scheduled improvements will enhance our offering further.”
Comments