S&P Global Reaffirms LoanCare Ratings

LoanCare, a ServiceLink company, has announced that its rating has been reaffirmed and maintained as Above Average, both as a residential mortgage primary servicer and as a residential special servicer, from S&P Global. According to their press release, the outlook is stable for both rankings.

According to S&P Global’s results, the rankings reflect LoanCare’s "enhanced technology environment, multiple levels of internal controls, sound training program and well-managed vendor oversight area.” This report points to several positive attributes of LoanCare including, “an experienced management team, competitive turnover metrics and proactive default management practices that are inclusive of automation.”

S&P Global believes that LoanCare has made improvements to its infrastructure to highlight efficiencies and reduce risk. “We expect LoanCare to remain a competitive servicer in the residential marketplace,” S&P Global stated.

"We are honored that S&P Global reaffirmed our rating and recognized LoanCare with Above Average rankings," said Dave Worrall, president of LoanCare. "This rating is a reflection on our company’s mission to provide service that exceeds expectations. We assure that we operate at the highest level of conduct through quality customer service, compliant practices, and innovative technology."

LoanCare, a ServiceLink company, is one of the top three providers of full-service subservicing and interim subservicing to the mortgage industry. Presently, LoanCare subservices more than 1.2 million loans in all 50 states, approximating $244 billion in loan balances.