On the heels of its acquisition by Goldman Sachs, Fitch Ratings said last week that it has affirmed its servicer ratings on Litton Loan Servicing. The former C-BASS unit saw primary servicer ratings for subprime and HLTV products affirmed at ‘RPS1’; special servicer ratings affirmed at ‘RSS1’; and manufactured housing servicer ratings affirmed at ‘RPS2’. As of June 30, 2007, Litton’s servicing portfolio consisted of more than 375,210 residential mortgage loans totaling more than $53.8 billion. In addition to MH loans, the portfolio included approximately 260,495 subprime loans totaling $46.4 billion and 89,360 HLTV loans totaling $4.3 billion. A portion of these loans (approximately 48,229 loans totaling $7.6 billion) are serviced for third parties and make up Litton’s special servicing portfolio. In 2003, Litton began acquiring MH loans. The company’s portfolio started from 3,300 loans totaling approximately $204 million to an inventory now of 7,252 loans totaling more than $585 million as of June 2007. Delinquent MH loans are serviced separately by a high risk asset (HRA) group. Fitch characterized the servicer as “efficient” in special servicing and “strong” in its primary servicing activities. For more information, visit http://www.fitchratings.com.

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