NEW YORK (S&P Global Ratings) Feb. 16, 2024--S&P Global Ratings today published its list of ranked U.S. residential mortgage originators and aggregators. We have reviewed and assigned mortgage operational assessment (MOA) rankings and an associated loss coverage adjustment (LCA) factor to the following companies (in alphabetical order): ORIGINATORS Name Overall ranking LCA A&D Mortgage LLC AVERAGE 1.00x AmWest Funding Corp. AVERAGE 1.00x Cardinal Financial Co. L.P. AVERAGE 0.95x Carrington Mortgage Services LLC AVERAGE 1.00x Change Lending LLC AVERAGE 1.05x Constructive Loans LLC AVERAGE 1.00x Deephaven Mortgage LLC AVERAGE 1.00x JPMorgan Chase Bank N.A. ABOVE AVERAGE 0.90x loanDepot.com LLC ABOVE AVERAGE 0.90x PennyMac Corp./PennyMac Loan Services LLC ABOVE AVERAGE 0.90x Temple View Capital Funding L.P. (MCM Capital) AVERAGE 1.05x Visio Financial Services Inc. AVERAGE 1.00x Vista Point Mortgage LLC AVERAGE 1.00x AGGREGATORS Name Overall ranking LCA Blue River Mortgage II LLC/ Blue River Mortgage III LLC (Angelo Gordon) AVERAGE 1.00x Citigroup Global Markets Realty Corp. (CGMRC) AVERAGE 1.00x Deephaven Mortgage LLC AVERAGE 1.00x Ellington Financial Inc. AVERAGE 1.00x Fannie Mae ABOVE AVERAGE 0.80x Freddie Mac ABOVE AVERAGE 0.80x Invictus Capital Partners AVERAGE 1.00x JPMorgan Mortgage Acquisition Corp. ABOVE AVERAGE 0.90x LSRMF3 Acquisitions Investments LLC (Hudson Advisors) AVERAGE 1.00x Mill City Loan Holdings LLC (AB CarVal Investors) AVERAGE 1.05x Morgan Stanley Bank N.A./ Morgan Stanley Mortgage Capital Holdings LLC AVERAGE 1.00x Neuberger Berman Investment Advisers LLC AVERAGE 1.00x Oaktree Capital Management AVERAGE 1.00x SG Capital Partners LLC AVERAGE 1.00x Toorak Capital Partners LLC AVERAGE 1.05x Vista Point Mortgage LLC AVERAGE 1.00x Western Asset Management Co. (WAMCO) AVERAGE 1.00x We will periodically publish updates to this list. RELATED CRITERIA
MOA RELATED RESEARCH ORIGINATORS A&D Mortgage LLC
AmWest Funding Corp.
- Presale: PRKCM 2023-AFC4 Trust, Oct. 30, 2023
Cardinal Financial Co. L.P.
- Cardinal Financial Co. L.P. Assigned Mortgage Operational Assessment Ranking Of AVERAGE, Oct. 29, 2021
Carrington Mortgage Services LLC
- Carrington Mortgage Services LLC AVERAGE Residential Mortgage Originator Operational Assessment Ranking Affirmed, March 14, 2023
Change Lending LLC
- Presale: CHNGE Mortgage Trust 2022-NQM1, Aug. 18, 2022
Constructive Loans LLC
Deephaven Mortgage LLC
JPMorgan Chase Bank N.A.
- JPMorgan Chase Bank N.A. ABOVE AVERAGE Ranking As A Residential Mortgage Originator Affirmed, Dec. 7, 2021
loanDepot.com LLC
- Presale: Mello Mortgage Capital Acceptance 2022-INV2, March 11, 2022
PennyMac Corp./PennyMac Loan Services LLC
- PennyMac Loan Services LLC MOA Ranking Raised To ABOVE AVERAGE; PennyMac Corp. Assigned ABOVE AVERAGE MOA Ranking, Nov. 23, 2021
Temple View Capital Funding L.P. (MCM Capital)
- Presale: PRPM 2023-NQM1 Trust, Feb. 8, 2023
Visio Financial Services Inc.
- Visio Financial Services Inc. AVERAGE Mortgage Operational Assessment Ranking Affirmed, Sept. 19, 2022
Vista Point Mortgage LLC
- Vista Point Mortgage LLC AVERAGE MOA Originator Ranking Assigned And Average MOA Aggregator Ranking Affirmed, Jan. 12, 2024
AGGREGATORS Blue River Mortgage II LLC/Blue River Mortgage III LLC
- Blue River Mortgage II And III LLC Assigned AVERAGE MOA Rankings; Blue River Mortgage I Ranking Withdrawn, May 11, 2022
Citigroup Global Markets Realty Corp.
- Citigroup Global Markets Realty Corp. AVERAGE Mortgage Operational Assessment Ranking Affirmed, May 2, 2023
Deephaven Mortgage LLC
Ellington Financial Inc.
Fannie Mae
- Federal National Mortgage Assn. ABOVE AVERAGE Mortgage Operational Assessment Ranking Affirmed, Jan. 5, 2024
Freddie Mac
- Federal Home Loan Mortgage Corp. ABOVE AVERAGE Mortgage Operational Assessment Ranking Affirmed, Aug. 28, 2023
Invictus Capital Partners
JPMorgan Mortgage Acquisition Corp.
- JPMorgan Mortgage Acquisition Corp. Mortgage Operational Assessment Ranking Raised To ABOVE AVERAGE, Nov. 9, 2022
LSRMF3 Acquisitions Investments LLC
- LSRMF3 Acquisitions Investments LLC Assigned AVERAGE Mortgage Operational Assessment Ranking, Oct. 18, 2023
Mill City Loan Holdings LLC
Morgan Stanley Bank N.A./Morgan Stanley Mortgage Capital Holdings LLC
Neuberger Berman Investment Advisers LLC
- Neuberger Berman Investment Advisers LLC AVERAGE Mortgage Operational Assessment Ranking Affirmed, Oct. 27, 2022
Oaktree Capital Management
SG Capital Partners LLC
Toorak Capital Partners LLC
- Presale: TRK 2022-INV2 Trust, May 13, 2022
Vista Point Mortgage LLC
- Vista Point Mortgage LLC AVERAGE MOA Originator Ranking Assigned And Average MOA Aggregator Ranking Affirmed, Jan. 12, 2024
Western Asset Management Co.
- Western Asset Management Co. AVERAGE Mortgage Operational Assessment Ranking Affirmed, Sept. 1, 2022
This report does not constitute a rating action.
Mortgage Operational Assessment Analyst: | Alicia Clarke, New York + 1 (212) 438 8805; alicia.clarke@spglobal.com |
Allison Bernhard, New York + 1 (212) 438 1488; allison.bernhard@spglobal.com | |
Connor E Cahill, New York + 1 (212) 438 1192; connor.cahill@spglobal.com | |
Analytical Manager, U.S. RMBS: | Vanessa Purwin, New York + 1 (212) 438 0455; vanessa.purwin@spglobal.com |
James T Taylor, New York + 1 (212) 438 6067; james.taylor@spglobal.com |
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