Homeloan Management Limited (HML), the systems and process outsourcing provider for the mortgage sector, has been given the highest rating so far awarded to a European residential loan servicer by rating agency Fitch.
HML has been awarded the rating RPS2. Fitch rates mortgage loan servicers from four to one, based on the company’s servicing abilities.
At present the highest rating available to UK residential mortgage loan servicers is RPS2+, so HML’s rating is one level below the highest rating possible. The company handles assets of over £8bn for over 30 clients and is a subsidiary of Skipton Building Society.
In setting the rating Fitch took into account HML’s long tenure in third-party servicing, its comprehensive service offering, internal controls, capability in a range of mortgage types and how robust its systems were.
Ron McCormick, chairman of HML, said: ‘This recognition provides a strong endorsement to our long-term commitment to efficient client service, investment in technology and our experience in the industry.’