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."