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S&P Credit Research793 word report
published Jan 28, 2009
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S&P Credit Research
| Abstract: | NEW YORK (Standard&Poor's) Jan. 28, 2009--Standard&Poor's Ratings Services today affirmed its rankings on CitiMortgage Inc. (CMI), an indirect wholly owned subsidiary of Citigroup Inc., at STRONG as a residential mortgage servicer and a residential subprime mortgage servicer. The outlook is stable. CMI continues to maintain sound controls and oversight within its servicing operation, and the company has continued to make improvements in response to the challenging marketing conditions. A notable accomplishment was the successful conversion of its subprime portfolio, which was previously on a vendor-provided system, onto the company's proprietary servicing system. This has allowed CMI to better leverage the functionality of its internal system and has reduced the costs associated with maintaining two separate technology
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| Brief Excerpt: | RESEARCH Ratings Definitions CitiMortgage STRONG Residential Mortgage, Residential Subprime Mortgage Servicer Rankings Affirmed; Outlook Stable Publication date: 28-Jan-2009 Servicer Analysts: Steven Frie, New York (1) 212-438-2458;...
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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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