Fitch upgrades HML for UK prime and sub-prime
HML’s new RPS1- primary (prime) servicer rating is the highest of any third-party mortgage administration company in the UK and Ireland. Its RPS1- primary (sub-prime) rating is the highest in Europe.
Fitch affirmed HML’s Irish residential mortgage primary servicer ratings for both prime and sub-prime at RPS2.
The rating agency highlighted HML’s robust internal control and risk management frameworks, as well as an increased focus on staff training and IT investment, particularly the company’s iPortal online client reporting tool.
Andrew Jones, chief executive officer of HML, said: “We are delighted with the news that Fitch has upgraded our UK residential primary (prime and sub-prime) servicer ratings from RPS2+ to RPS1-. We are now the highest-rated third-party mortgage administration company in the UK and Ireland for UK residential primary (prime) and the highest-rated in Europe for UK residential primary (sub-prime) by Fitch.
“Fitch highlighted our robust internal control and risk management frameworks, as well as our investment in IT, as particular strengths. We operate in a tough regulatory regime, and we are proud of our quality culture and environment, which reflect HML’s experience and stability.
“We also realise the importance of innovation, which is a key differentiator in the market. Fitch highlighted our iPortal online client reporting tool as an example of innovation, which it considers to be market best practice.
“In the past 18 months we have secured 17 new contracts across all of our offerings, including mortgage servicing, analytics, standby servicing and unsecured lending. This reflects how our procedures and systems are robust and highly regarded within the market.”