Fitch Ratings has withdrawn Washington Mutual Bank's (WaMu) and Washington Mutual Mortgage Securities Corporation's (WMMSC) U.S. residential servicer ratings as follows:
WaMu:
--Residential primary servicer rating for Prime product 'RPS2+';
--Residential primary servicer rating for Alt-A product 'RPS2+';
--Residential primary servicer rating for Subprime product 'RPS2+';
WMMSC:
--Residential master servicer rating 'RMS2'.
Fitch has withdrawn the servicer ratings due to the consolidation of WaMu's and WMMSC's servicing operations under Chase Home Finance LLC (see Fitch's press release on Chase Home Finance LLC's servicer ratings dated Sept. 30, 2009). The ratings were determined in accordance with Fitch's criteria 'Rating U.S. Residential Mortgage Servicers', dated Nov. 29, 2006 and 'Global Rating Criteria for Structured Finance Servicers' dated Sept. 30, 2009, which are available on the Fitch Ratings web site at 'www.fitchratings.com'.
Fitch rates residential mortgage primary, master, and special servicers on a scale of 1 to 5, with 1 being the highest rating. Within some of these rating levels, Fitch further differentiates ratings by plus (+) and minus (-) as well as the flat rating. For more information on Fitch's residential servicer rating program, please see Fitch's report 'Rating U.S. Residential Mortgage Servicers', dated Nov. 29, 2006, which is available on the Fitch Ratings web site at 'www.fitchratings.com'.
Additional information is available at 'www.fitchratings.com'.
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Contacts:
Fitch Ratings, New York
Thomas Crowe, 212-908-0227
Mary
Kelsch, 212-908-0563
or
Media Relations:
Sandro Scenga,
212-908-0278
Email: sandro.scenga@fitchratings.com