""Freddie Mac"":http://www.freddiemac.com/ announced its multifamily division has received an initial commercial mortgage-backed securities (CMBS) master servicer rating of CMS2 from Fitch Ratings--the highest initial rating ever assigned by Fitch for a master servicer.
[IMAGE] [COLUMN_BREAK]In addition, Fitch affirmed Freddie Mac Multifamily's existing special servicer rating of CSS2-.
The two ratings reflect Freddie Mac Multifamily's ability to service and work out loans from its network that are backed by apartment buildings of five or more units.
In a ""press release"":http://www.fitchratings.com/creditdesk/press_releases/detail.cfm?pr_id=807031 announcing the assignments, Fitch said both ratings ""consider the company's strong management team, efficient use of technology, financial strength, knowledge of the multifamily lending environment combined with the support of its seller/servicer network.""
""These rankings are further testament of the strength of our people and the breadth and depth of our organizational capabilities,"" said Michael Lipson, SVP of Multifamily Asset Management and Operations for Freddie Mac. ""Having third party validation adds credibility in the marketplace and helps investors maintain confidence in our Multifamily business.""