Fitch Ratings said yesterday that it has assigned Wachovia Bank, N.A. its ‘RPS2’ residential primary servicer rating for home equity and prime products. According to a statement released by Fitch, the agency’s rating action was based on the company’s experienced and tenured management team, effective performing loan management procedures, and its extensive training programs. The rating also reflected the financial strength of Wachovia Corporation, whose long-term debt is rated ‘AA-‘ by Fitch.
