Fitch Says More Attention Needed on Servicers, But Only Modest Changes in Trustee Functions
February 28, 2003
The growing industry attention that has been focused on the shortcomings of ABS trustees overlooks the more important role of servicers in asset securitization, according to Fitch Ratings. Overall, ABS performance has remained quite strong relative to corporate debt, says the ratings service in a statement released this week. Most problems that have arisen have been tied to thinly capitalized seller/servicers