S&P affirms ‘above average’ rankings on Link Mortgage Services

LONDON: S&P Global Ratings has affirmed its ‘Above Average’ rankings on Link Mortgage Services Ltd. (LMSL) as a primary and special servicer of residential mortgages and as a primary servicer of small-balance commercial mortgages in the U.K.

“At the same time, we affirmed our AVERAGE ranking on LMSL as a special servicer of small-balance commercial mortgages in the U.K. The outlook on our rankings is stable,” S&P said.

Rankings reflect:

. Experienced and tenured leadership team.

. A reduction in its overall staff turnover rate, which reflects ongoing mitigation actions, the effect of which we will continue monitoring.

. Good internal controls environment, supported by the Link Asset Services (LAS) division of the Link Group.

. Continuous development of the technology platform, including enhancements such as increased postroom automation.

. Well-designed residential mortgage servicing operations with a diversified residential mortgage portfolio. Adequate small-balance commercial servicing activity, primarily comprising performing loans.

. The company’s maintained capabilities to manage nonperforming small-balance commercial mortgages, despite a minimal portfolio under management.

. Positive servicing metrics across residential and small-balance commercial mortgages.

. Institutional and financial backing from the Link Group.

The outlook is stable for all four rankings. LMSL has well-established operations that have maintained servicing standards. “We believe LMSL will remain a capable residential and small-balance commercial mortgage servicer of various product types”.


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