Fairbanks Ready to Grow Loan Portfolio.(Fairbanks Capital Corp.)

Mortgage Servicing News | June 1, 2004 | Copyright

On the long, painful road to recovery, Fairbanks Capital Corp., Salt Lake City, has just passed some big milestones, and the company is now ready to halt the runoff that has shrunk its portfolio over the past year.

The company received upgrades of its servicer rating from Standarnd & Poor's and Moody's recently, both of which had slashed Fairbanks ratings after publicity and lawsuits drew attention to allegedly abusive servicing practices. In addition, Fitch Ratings removed Fairbanks from ratings watch "negative" status and affirmed its ratings in March.

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