In its report Fitch Ratings described Acenden as “the highest rated residential mortgage full servicer providing both primary and special servicing capabilities in the UK”.
It is the second Fitch upgrade Acenden has had since July 2010, which the ratings agency said reflected improvements in Acenden’s technology platform and risk management programme.
Martin Frazer, commercial director at Acenden, said: “We are delighted with our latest ratings review from Fitch, which quickly follows in the footsteps of an upgrade in September last year, meaning that we have had a two notch increase in less than 12 months.
“A number of key strengths were highlighted by Fitch, including the recent launch of our self service customer website, which is unique amongst third party mortgage administrators.”
Acenden formerly traded as Capstone Mortgage Services and was formed out of the mortgage services division of Lehman Brothers. It services ex-Lehman owned mortgage books from SPML and Preferred Mortgages.
