Fitch Ratings has withdrawn Wilshire Credit Corp.'s U.S. residential servicer ratings.
The ratings withdrawn are as follows: residential primary servicer rating for Alt-A product 'RPS1'; residential primary servicer rating for subprime product 'RPS1'; residential primary servicer rating for specialty second lien product 'RPS1'; and residential special servicer rating 'RSS1'.
According to the rating agency, the ratings withdrawal is based on the fact that there not enough information to maintain the ratings following the merger of Wilshire into BAC Home Loans Servicing on March 1.
The bulk of the loans previously serviced by Wilshire are now serviced by BAC Home Loans Servicing, which is a successor by merger. The last information received from Wilshire was dated June 30, 2009, and BAC Home Loans Servicing indicated that they will not be giving annual statistics or portfolio information to maintain separate servicer ratings for the Wilshire platform.
