| Description: | This report highlights areas of Fitch’s servicer rating process that it believes are specifically important for reverse mortgages, such as a servicer’s ability to report loan balances and disbursements to borrowers, monitor taxes and insurance, calculate servicing fee payments, track interest accruals and line of credit activity, as well as maintain a strict internal control environment. Additionally, the servicer’s default management procedures, including bankruptcy, foreclosure, property disposition and liquidation, are also essential processes in servicing this product type. |
