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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.

About Author: Kristina Brewer

Kristina Brewer is the Editorial Assistant of Publications for the Five Star Institute, including DS News and MReport magazine. She is a graduate of the University of North Texas (UNT), where she received her Bachelor of Arts in English with a concentration in rhetoric and writing and a minor in global marketing. During this time, she served as Director of Philanthropy in the national women’s fraternity Zeta Tau Alpha, of which she is an alumna. Her passion for philanthropy continued after university when she was an intern at Keep Denton Beautiful, a local partner of Keep America Beautiful, where she drove membership, organized events, and led social media campaigns. Brewer honed her writing at the North Texas Daily, UNT’s student-run newspaper where she wrote about faculty, mentorship, and student life. Brewer also previously worked at Optimus Business Plans where she helped start-ups create funding proposals, risk assessments, and management plans.
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