ֳ Servicer Ratings
Servicer Ratings are operational risk assessments of residential, small balance commercial, commercial and certain asset backed servicers located in Europe, Latin and North America.
01Insights
02What is a Servicer Rating?
The agency rates commercial, residential, small balance commercial mortgage servicers, as well as entities managing other secured and unsecured loans on a scale of 1–5, with 1 being the highest rating. Servicer Ratings may also be assigned to servicers of assets that are not securitised. The ratings are written with either a C, R, SB, or AB prefix to denote the asset class to which they apply:
- ‘C’ for servicers servicing commercial loans,
- ‘R’ for servicers servicing residential loans,
- ‘SB’ for servicers servicing small balance commercial mortgage loans,
- ‘CLL’ for servicers servicing commercial loan level, and
- ‘AB’ for servicing other secured (i.e. asset-backed) and/or unsecured loans.
The asset class prefix will then be followed by the abbreviation denoting the servicer rating type:
- ‘PS’ for primary servicers,
- ‘MS’ for master servicers, or
- ‘SS’ for special servicers.
The final component of the rating is the rating level. Within some of the rating levels, the agency further differentiates the rankings by pluses and minuses.
03Servicer Ratings
EMEA Servicer Rating Coverage
North America Commercial Servicer Rating Coverage
North America Residential Servicer Rating Coverage
LATAM Servicer Rating Coverage
Structured Finance Encyclopedia
In this edition of ֳ’s Credit Encyclopedia series, we look at securitization. Created for newcomers to the asset class, or those looking to review the basics, our guide covers the fundamentals of the sector, key risk factors, regulatory considerations and more.
04Criteria
Criteria for Rating Loan Servicers
Criteria for Rating U.S. and Canadian Residential and Small Balance Commercial Mortgage Servicers
Criteria
Criteria explain our forward-looking ratings approach. Criteria reports identify rating drivers and assumptions, and highlight the scope and limitations of our analysis.
