Pepper Australia has got a ‘strong’ ranking for the first time from Standard & Poor’s for being a prime residential loan servicer.
This is the highest loan servicer ranking assigned by independent ratings firm S & P.
Pepper, established in 2001, was also given a strong sub-prime residential loan servicer ranking again, and strong sub-rankings for Pepper’s management and organisation and loan administration.
These rankings reflect Pepper’s well-established position with a high degree of industry knowledge and proficiency in the Australian servicing market, solid loan-processing and servicing infrastructure, and robust internal audit framework, S & P said.
“Standard & Poor's believes the company's high levels of internal controls and astute processing, underwriting and servicing performance objectives are aligned with its servicing philosophy. Pepper has maintained superior arrears-management and loss-mitigation strategies.”
Pepper co-group CEO Patrick Tuttle was pleased at the acknowledgement.
“These rankings are a reflection of our professionalism and commitment to high standards in all aspects of our loan origination and servicing processes and to the quality and experience of our staff.”