Crown’s servicer ratings reaffirmed by Fitch
Fitch Ratings has affirmed UK mortgage servicer Crown Mortgage Management’s ratings across its residential and commercial, primary and special servicing.
The ratings include 'RPS3+(prime)', 'RPS3+(subprime)' and 'RSS3+' for its UK Residential Primary Servicer and Special Servicer ratings, and ‘CPS3+’ (small loans) and ‘CSS3+’ (small loans) for its UK Commercial Primary and Special Servicer ratings. Crown is the only UK servicer to be rated for CPS and CSS small loans.
Crown’s residential mortgage portfolio has more than doubled in size by value from May 2011 to June 2012 and Fitch recognised the growth and enhancements made to Crown’s servicing proposition.
Fitch also noted Crown’s focus on change management, including the appointment of Sue Ross as chief information officer in April this year.
Eric Stoclet, CEO for Crown Mortgage Management, commented: "Fitch continues to recognise the company’s improving financials, industry experience of senior management, and Crown’s capability as a mortgage servicer of both residential and commercial mortgages.
“We have continued to grow assets under management in very difficult market conditions. The ratings affirmation is further evidence that Crown’s business strategy is working.
“As the Fitch report highlights, we hired Sue Ross as chief information officer. Sue has a vast and multi-faceted background with over 25 years’ experience delivering complex IT and business change programmes.
“This has been crucial to the process of strengthening our management team, giving us significant bench strength and experience. This puts us in a strong position in the market place as we look to grow the business."