subscribe to our newsletter
S&P affirms Resimac's loan servicing strength

S&P affirms Resimac's loan servicing strength

Standard & Poor's has affirmed the 'strong' rankings assigned to non-bank lender Resimac as a prime and sub-prime residential-loan servicer.

The rankings reflect S&P's view of Resimac's continued solid servicing quality, strong management team, comprehensive corporate governance and risk-management framework, and well-designed scalable technology platform.

S&P noted that prime and sub-prime residential loan service rankings reflect Resimac's continued solid servicing quality and key service strengths, which include its senior management team's extensive experience and a robust management structure.

"While Resimac's sub-prime track record is relatively limited, we believe Resimac has leveraged its prime residential loan servicing experience to build a non-conforming and sub-prime business comparable to its prime loan-servicing operations," according to an S&P update.

"The stable outlook on the prime and sub-prime rankings reflects our expectation that Resimac will continue to be an efficient and competent residential loan servicer, which is underpinned by its experienced management team, qualified staff, and substantial technology infrastructure."

 

S&P affirms Resimac's loan servicing strength
mortgagebusiness logo

Latest News

Justice Beach of the Federal Court today found that a major lender engaged in unconscionable conduct under s12CC of the Australian Securiti...

The major bank has conceded to the royal commission that there were a “number of errors” in an “unacceptable” loan application it ap...

The non-bank lender has announced that it has replaced its current group treasurer, Todd Lawler, with ex-QBE executive Paul Byrne. ...

Promoted Stories

podcast

LATEST PODCAST: Macquarie merger, WA property tax and AMP staff haemorrhage

Do you expect access to credit to get harder this year?