Green River Capital, LLC (GRC), a provider of REO asset management and loss mitigation services for mortgage servicers, investment firms, and banking institutions, announced today that Morningstar Credit Ratings, LLC (Morningstar) raised its residential vendor ranking as a residential vendor in the asset-management market to ‘MOR RV1’ from ‘MOR RV2,’ and raised its residential component servicer ranking in the short sales market to ‘MOR RS1’ from ‘MOR RS2.’ The forecast for both rankings is Stable.
According to Morningstar’s bulletin: “The raised rankings reflect Morningstar’s assessment of GRC’s operational infrastructure and client-driven performance results in its respective duties as a residential component servicer and asset manager for real-estate owned (REO) properties. The Stable forecast for both rankings reflects solid performance for GRC’s client base and an enterprise-wide focus on audit, quality control, compliance, and technology. GRC management has developed an effective compliance culture that promotes industry best practices through a solid training regimen, comprehensive and client-driven policies and procedures, and internal performance monitoring and reporting.”
Morningstar added: “GRC’s proprietary technology and overall systems infrastructure provides the company with a highly flexible platform from which to pursue new business leads and launch new products quickly as industry developments occur. GRC’s flexible business model and proprietary technology provide the company, both as a component servicer and vendor, market growth and a diversified business strategy, which are evident in recently introduced business ventures such as collateral underwriting and property manager oversight and compliance for the single-family rental securitization market.”
“Being a part of two financially strong entities—Clayton Holdings and the Radian Group—allows us to invest in the technology, processes and enhancements to provide our clients with best-in-class services,” said Tim Reilly, President of GRC. “Morningstar’s decision to raise our rankings, combined with our SOC1 reports, speak to the strength and security of our infrastructure and cultural commitment to compliance and our clients.”