Subprime Lending

Moodys: Popular Faces Servicer Rating Downgrade 

Moody’s Investors Service said late last week that it has placed the servicer quality rating of Popular Mortgage Servicing, Inc., also known as Equity One, Inc., on review for a possible downgrade. Moody’s said its action was due to the announcement by the parent corporation, Popular, Inc., that it will close its subprime wholesale and retail origination channels but continue the servicing operations.