Powered by MOMENTUM MEDIA
subscribe to our newsletter

IMB receives ‘strong’ loan servicer ranking

Credit ratings agency Standard & Poor’s (S&P) has affirmed the “strong” ranking assigned to non-major lender IMB as a prime residential loan servicer.

S&P said the ranking reflects IMB’s sound servicing quality, supported by its experienced management team and effective use of technology in the bank’s well-automated mortgage servicing operations.

IMB’s key servicer strengths include a comprehensive risk management framework, a well-designed internal controls framework and internal audit program, effective quality assurance reviews of approved loans, and a robust training and development program.

S&P said IMB also has strong servicing and policy procedures, contributing to a low arrears level that compares favourably to the agency’s Performance Index (SPIN) for Australian prime RMBS transactions.

“The stable outlook reflects our expectation that IMB will continue to maintain its servicing strengths, which are underpinned by its experienced management, strong servicing policy and procedures, and the continual enhancement of its already efficient loan-servicing platform,” it said.

Advertisement
Advertisement

PROMOTED CONTENT


However, S&P noted that a servicer ranking is a statement of the agency's opinion and not a statement of fact, and should not be represented as a credit rating. 

IMB receives ‘strong’ loan servicer ranking
mortgagebusiness

Latest News

The IMF has urged Australia to consider reforms around housing supply and lending standards, citing apprehension around the upsurge in prope...

Treasurer Josh Frydenberg has backed the net-zero emissions by 2050 target, warning failure to comply will hurt banks’ access to capital a...

The regulator is set to release information setting out how it would use macroprudential policy tools, after expressing concerns around the ...

Join Australia's most informed brokers

Do you know which lenders are providing brokers and their customers with the best service?

Use this monthly data to make informed decisions about which lenders to use. Simply contribute to the survey and we'll send you the results directly to your inbox - completely free!

How long do you think it should take to discharge a mortgage?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.