Printer Friendly
The Free Library
23,416,916 articles and books


Fitch Affirms OCWEN's Special Servicer Rating At `CSS2'.

Business Editors

NEW YORK--(BUSINESS WIRE)--Dec. 3, 2001

OCWEN Federal Bank FSB's (OCWEN) special servicer rating of `CSS2' is affirmed by Fitch based on their consistent ability to specially service and resolve distressed assets securing commercial mortgage-backed securities (CMBS).

The rating reflects the company's highly experienced team and commitment to technology. Despite disappointing financial performance from the parent, OCWEN Financial Corporation, the servicing division is profitable. The company continues to support its technology division, OTX, and is confident this division will also become profitable.

OCWEN is highly effective in managing and liquidating assets. As of Sept. 30, 2001 OCWEN serviced commercial assets totaling $1.38 billion, which includes commercial real estate owned (REO) assets totaling $132.4 million.

Fitch rates special servicers 'CSS1', `CSS2', 'CSS3', or 'CSS4', with `CSS1' being the highest rating on the scale.
COPYRIGHT 2001 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2001, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Dec 3, 2001
Words:137
Previous Article:Hong Kong's Largest Hotel Group, Regal Hotels International, Chooses VIP International of Canada to Increase Reservations.
Next Article:Wireless Services Corporation Announces Version 4.0 of its Intercarrier Messaging Gateway for Wireless Carriers Worldwide.
Topics:



Related Articles
Fitch IBCA Affirms OCWEN's Special Servicer Rating at `CSS2'.
Fitch Affirms OCWEN's Special Servicer Rating Of `CSS2'.
Fitch Affirms First Union Servicer Ratings.
S&P Assigns Ocwen Federal Bank Servicer Rnkgs.
Fitch Affirms Ocwen's 'RPS2' & 'RSS2' Resi Servicer Rtgs.
Fitch Affirms Ocwen's Resi Servicer Ratings.
Fitch Ratings Affirms Ocwen's 'CSS2' Special Servicer Rating.
Fitch Affirms Ocwen's CMBS Special Servicer Rating.
Fitch Affirms & Removes Ocwen's Resi Servicer Ratings From Watch Negative.
Fitch Affirms Ocwen's Resi and Special Servicer Ratings.

Terms of use | Copyright © 2014 Farlex, Inc. | Feedback | For webmasters