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S&P Credit Research9498 word report
published Mar 17, 2009
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S&P Credit Research
| Abstract: | The rankings on CitiMortgage Inc. (CMI), an indirect wholly owned subsidiary of Citigroup Inc., are affirmed at STRONG as a residential mortgage servicer and residential subprime servicer. CMI continues to maintain sound controls and oversight within its servicing operation, and the company has made 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 change allowed CMI to better leverage the functionality of its internal system and reduced the costs associated with maintaining two separate technology environments. The company also redesigned and augmented aspects of its training program in key areas affecting customer service and collections. These
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| Brief Excerpt: | RESEARCH Ratings Definitions Servicer Evaluation: CitiMortgage Inc. Publication date: 17-Mar-2009 Servicer Analysts: Steven Frie, New York (1) 212-438-2458; steven_frie@standardandpoors.com Gregg Moskowitz, New York (1) 212-438-1838;...
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| Report Type: | Full Report
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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, Servicer Evaluations, 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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