Fitch upgrades outsourcer for arrears work
A RATINGS agency has awarded a double upgrade to HML, the Skipton-based financial outsourcing firm, for its work with residential mortgage loans that have gone into default.
Fitch upgraded the company's special servicer rating in recognition of its lower than average arrears that result in repossessions, its above average proceeds from repossessed property sales and performance of loans following arrangement to pay negotiations. The agency affirmed HML's primary servicer rating for prime and subprime loans.
Neil Warman, chief commercial officer of HML, said: "We are very aware of our capabilities in this area and those of other rated servicers and we willcontinueinvesting in the quality of ourservice to ensure another positive review next year." Overall, Fitch indicated that performance was positive compared to last year.