2008-08-13 23:42:04 -
- Fitch Ratings has withdrawn IndyMac Bank, FSB's (IndyMac) residential servicer ratings as follows:
--Primary servicer rating for Alt-A product rated 'RPS5';
--Primary servicer rating for subprime product rated 'RPS5';
--Primary servicer rating for prime product rated 'RPS5';
--Special servicer rating 'RSS5'.
The rating withdrawals reflect the closure of IndyMac by the Office of Thrift
Supervision (OTS) and the appointment of the Federal Deposit Insurance Corporation (FDIC) as receiver on July 11, 2008.
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.
Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the 'Code of Conduct' section of this site.
Fitch Ratings
Stephanie Whited, +1-562-481-1368 (California)
Mary Kelsch, +1-212-908-0563 (New York)
Sandro Scenga, +1-212-908-0278
(Media Relations, New York)
