NEW YORK, July 7, 2015 /PRNewswire/ -- Morningstar Credit
Ratings, LLC today assigned its 'MOR CS1' commercial mortgage
master servicer ranking for Fannie Mae. Morningstar's forecast for
the ranking is Stable.
Morningstar assigned its master servicer ranking based on Fannie
Mae's strong management and professional depth, robust technology
platform, proactive asset administration through its watchlist
process, and its extensive and thorough oversight of subservicer
data accuracy and quality. The ranking also considers the company's
well-managed, far-reaching training program and strong internal
controls.
Strong procedures and superior technology allow Fannie Mae to
realize aggressive timelines in both subservicer reporting and
remitting along with the company's own investor reporting and
remitting, with no errors or unreconciled items in the past two
years.
As of Dec. 31, 2014, Fannie Mae's
multifamily master servicing portfolio consisted of 32,795 loans
with an unpaid principal balance (UPB) of $201.5 billion, representing a decrease in loan
count but an increase in UPB compared with 35,604 loans with a UPB
of $199.1 billion as of Dec. 31, 2013.
To access Morningstar's operational risk assessment methodology
and all published reports, please visit
https://ratingagency.morningstar.com.
About Morningstar Credit Ratings, LLC and Morningstar,
Inc.
Morningstar Credit Ratings, LLC is a Nationally
Recognized Statistical Rating Organization (NRSRO) that specializes
in structured credit research and ratings and offers a wide array
of services including new-issue ratings and analysis, operational
risk assessments, surveillance services, data, and technology
solutions.
Morningstar Credit Ratings' rankings, forecasts, and assessments
contained in this press release are evaluations and opinions of
noncredit related risks, and therefore, are not credit ratings
within the meaning of Section 3 of the Securities Exchange Act of
1934 ("Exchange Act") or credit ratings subject to the Exchange Act
requirements and regulations promulgated thereunder with respect to
credit ratings issued by NRSROs.
Morningstar Credit Ratings, LLC is a subsidiary of Morningstar,
Inc. (NASDAQ: MORN), a leading provider of independent investment
research in North America,
Europe, Australia, and Asia.
Morningstar, Inc. offers an extensive line of products and
services for individual investors, financial advisors, asset
managers, and retirement plan providers and sponsors. Morningstar
provides data on approximately 500,000 investment offerings,
including stocks, mutual funds, and similar vehicles, along with
real-time global market data on more than 15 million equities,
indexes, futures, options, commodities, and precious metals, in
addition to foreign exchange and Treasury markets. Morningstar also
offers investment management services through its investment
advisory subsidiaries and had more than $179
billion in assets under advisement and management as of
March 31, 2015. The company has
operations in 27 countries.
Morningstar, Inc. is not an NRSRO, and its credit ratings on
corporate issuers are not NRSRO credit ratings.
©2015 Morningstar, Inc. All Rights Reserved.
MORN-R
Media Contact:
Michelle
Weiss, +1 267-960-6014 or michelle.weiss@morningstar.com
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SOURCE Morningstar, Inc.