Fitch Withdraws Wachovia Bank's U.S. Resi Primary Residential Servicer Ratings

NEW YORK--(BUSINESS WIRE)-- Fitch Ratings has withdrawn Wachovia Bank, N.A.'s (Wachovia) U.S. residential primary servicer ratings as follows:

--U.S. residential primary servicer rating for prime product 'RPS2';

--U.S. residential primary servicer rating for home equity line of credit (HELOC) 'RPS2';

--U.S. residential primary servicer rating for specialty second lien product 'RPS2'.

The rating withdrawals are based on the final integration of Wachovia into Wells Fargo and Company (WFC). The integration of Wachovia into the operations of WFC commenced Dec. 31, 2008. However, Wachovia continued to service under its own name until the merger was completed.

Fitch rates residential mortgage primary, master, and special servicers on a scale of 1 to 5, with 1 being the highest rating. Within some of these rating levels, Fitch further differentiates ratings by plus (+) and minus (-) as well as the flat rating.

Additional information is available at 'www.fitchratings.com'.

Related Research

--'Rating U.S. Residential Mortgage Servicers', dated Nov. 29, 2006;

--'Global Rating Criteria for Structured Finance Servicers' dated Aug. 13, 2010.

Related Research:

Rating U.S. Residential Mortgage Servicers

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=302964

Global Rating Criteria for Structured Finance Servicers

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=547305

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CONTACT:

Fitch Ratings, New York
Sandro Scenga, +1-212-908-0278
sandro.scenga@fitchratings.com
or
Primary Analyst
Michael Laidlaw, +1-212-908-0251
Director
One State Street Plaza
New York, NY 10004
or
Secondary Analyst
Margaret Sweeney, +1-212-908-0712
Director
or
Committee Chairperson
Diane Pendley, +1-212-908-0777
Managing Director

KEYWORDS:   United States  North America  New York  North Carolina

INDUSTRY KEYWORDS:   Professional Services  Banking  Finance

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