The servicer’s residential primary, prime and subprime servicer ratings have been upgraded from 3+ to 2-, its UK residential special servicer rating has been upgraded from 2- to 2, and its UK residential master servicer rating has been affirmed at 2-.
Fitch Ratings said the ratings were based on Oakwood’s ability to effectively manage growth, as evidenced by the acquisition of four new portfolios within the past 12 months, including the largest non-performing loan portfolio trade in the UK since the credit crisis began.
Richard Klemmer, partner at Oakwood Global, said: “This reaffirms our strong belief that experienced people and reliable technology are twin pillars of success in this business.
“We have often been quoted as saying that these two elements have been key to our continuous improvement and to have had this accredited by an external agency is extremely satisfying.”
