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S&P Credit Research693 word report
published Jan 29, 2008
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S&P Credit Research
| Abstract: | NEW YORK (Standard&Poor's) Jan. 29, 2008--Standard&Poor's Ratings Services today raised its ranking on CitiMortgage Inc. (CMI), an indirect wholly owned subsidiary of Citigroup Inc., to STRONG from ABOVE AVERAGE as a subprime mortgage servicer. Concurrently, we affirmed our STRONG rankings on CMI as a residential mortgage servicer and a residential subordinate-lien mortgage servicer. The outlook is stable. CMI has continued to effectively centralize its prime and subprime operations into one distinct organization that separates functions between these product types primarily in the critical default areas. This centralization has resulted in a more unified approach to reporting key data, as reflected in the formal tracking of certain statistics that were not previously part of the normal reporting
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| Brief Excerpt: | RESEARCH Ratings Definitions CitiMortgage Residential Subprime Servicer Ranking Raised To STRONG; Others Affirmed Publication date: 29-Jan-2008 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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