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Residential Credit Solutions, Inc. (RCS) has just received approval from the Government National Mortgage Association (Ginnie Mae) to be an issuer and servicer for the Ginnie Mae I and II single-family mortgage-backed securities programs.... link read more

5 Minutes With Dennis Stowe
RCS was purpose-built to service nonperforming loans and protect both borrowers and investors. Now they are providing aid for larger servicers as well, using such concepts as "single point of contact". DS News shares the perspective of President and CEO of RCS, Dennis G. Stowe on the role of special servicers in today's mortgage servicing world.  linkread more

RCS was awarded two upgrades from Fitch Ratings; the company’s residential primary servicer rating for subprime products was upgraded from ‘RPS3+’ to ‘RPS2-’ and its residential special servicing rating was bumped up from ‘RSS3+’ to ‘RSS2-’.... link read more

Residential Credit Solutions announced Tuesday that it has issued a newly created asset-backed securitization comprised of residential loans and real estate. The secondary market offering, under the name Residential Credit Solutions Trust 2011-1, carries a value of more than $110 million. .... link read more

FDIC The Federal Deposit Insurance Corporation (FDIC) has closed on a sale of 40 percent equity interest in a limited liability company (LLC) created to hold approximately $898 million of primarily non-performing residential loan assets out of AmTrust Bank. ... link read more
Business Week FORT WORTH, Texas--Residential Credit Solutions, Inc. (“RCS”), a specialized mortgage investment and servicing company today announced that Standard & Poor’s Rating Services (“S&P”) has raised its Primary and Special servicer rating to above average, with a stable outlook. ... linkread more
Residential Credit Solutions, Inc. (“RCS”), a Fort Worth, Texas-based mortgage servicing company, and Overture Technologies, today announced that RCS is implementing Overture Technologies’ Mozart for Special Servicing to increase the productivity of its efforts to quickly and accurately identify the optimal workout solutions for borrowers. ... link read more
mortgage orb Fitch has upgraded RCS' rating for subprime product to RPS3+ from RPS3- and assigned the company a special servicer rating of RSS3+. The rating actions are based on RCS' experienced management team, effective loan administration processes and focused default management practices, Fitch says. ... link read more
prnewswire NEW YORK, -- Residential Credit Solutions, Inc. ("RCS") today announced that it has been approved as a servicer by the Fannie Mae. RCS was approved by Fannie Mae as a residential mortgage servicer, recognizing RCS's capabilities and capacity to service loans that meet Fannie Mae's standards. ... link read more
thehuffingtonpost WASHINGTON - The Federal Deposit Insurance Corp. on Wednesday named the first winning bidder under a test of the government's program to back private purchases of toxic mortgage assets and get them off banks' balance sheets. ... link read more
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