Please replace the release dated September 5, 2024 with the following corrected version due to multiple revisions.
The updated release reads:
NEWREZ ACHIEVES KEY SERVICER RATINGS AND APPROVALS, STRENGTHENING POSITION AS A LEADING MASTER SERVICER
Newrez LLC (“Newrez”), a leading mortgage servicer, is pleased to announce its Master Servicing division (NRMS) recently received ratings and approvals reinforcing its position as a top-tier master servicer. These achievements highlight Newrez’s ongoing commitment to excellence, innovation, and client satisfaction.
- Newrez is rated "AVERAGE" by S&P Global® Ratings as a master servicer, a reflection of its strong operational framework, effective risk management practices, and dedication to maintaining high standards in servicing loans.
- Newrez received approval from DBRS® Morningstar® as a master servicer, a recognition of its high level of competency in servicing residential mortgage-backed securities (RMBS) and ability to manage complex servicing portfolios effectively.
- Newrez has been rated "RMS3” by Fitch Ratings®, affirming its consistent performance and robust servicing capabilities. This rating showcases Newrez’s ability to handle varying market conditions while maintaining quality service delivery and effective asset management. The company received rating approval from Kroll Bond Rating Agency® (KBRA®).
Newrez remains committed to delivering high-quality service and innovative solutions that meet the evolving needs of its clients, through its 32,498 serviced loans and $5.1B in UPB as of June 30, 2024. With these recent ratings and approvals, the company is well-positioned to continue the growth of its master servicing division.
About Newrez LLC
Newrez is a leading mortgage servicer and lender dedicated to providing a customer-first experience and helping homeowners make smart moves throughout their homeownership journey. Newrez offers industry-leading servicing capabilities for owned MSRs and for third-party clients, as well as a robust origination model with presence in the retail, wholesale, correspondent, and consumer direct verticals. Newrez’s mission is to champion homeownership – the company helps clients achieve their homeownership goals through a wide array of products and services. Newrez was established in 2008 and is headquartered in Fort Washington, PA.
For more information, please visit www.newrez.com.
S&P Global® is a registered trademark of S&P Global Inc. DBRS® is a registered trademark of DBRS Limited. Morningstar® is a registered trademark of Morningstar, Inc. Fitch Ratings® is a registered trademark of Fitch Ratings, Inc. Kroll Bond Rating Agency® and KBRA® are registered trademarks of KBRA Holdings, LLC. None of the above-mentioned companies are affiliated with Newrez.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240905142008/en/
Contacts
christian.wilson@newrez.com
2144367103
