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S&P Credit Research602 word report
published Jan 15, 2009
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S&P Credit Research
| Abstract: | NEW YORK (Standard&Poor's) Jan. 15, 2009--Standard&Poor's Ratings Services today affirmed its STRONG ranking on CitiMortgage Inc. (CMI), a wholly owned indirect subsidiary of Citigroup Inc., as a residential mortgage master servicer. The outlook is stable. CMI maintains sound controls throughout its master servicing organization. The company has multiple auditing mechanisms that help ensure that it is adhering to prudent servicing practices, including an internal audit, self-assessment reviews, and an investor-required audit. While CMI's internal audits are not as frequent as others in the industry, we believe they are sufficient to identify and resolve any possible issues within the master servicing sector. In the past year, management completed its plan to increase its on-site servicer reviews, which,
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| Brief Excerpt: | RESEARCH Ratings Definitions CitiMortgage Inc. Residential Mortgage Master Servicer Ranking Affirmed At STRONG Publication date: 15-Jan-2009 Servicer Analyst: Steven Frie, New York (1) 212-438-2458; steven_frie@standardandpoors.com...
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| Report Type: | Ratings Action
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| Ticker: | 16010Z
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| Issuer: | CitiMortgage Inc.
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| GICS: | Thrifts & Mortgage Finance (40102010)
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| Sector: | Asset-Backed Securities, Financial Institutions, Global Issuers, Residential MBS, Structured Finance
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| Country: | United States
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| Region: | United States
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| Free Sample: |
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
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