ING IM’s primary servicer rating is based on the long tenure of the company’s management team, its demonstrated commitment to technology, and its extensive experience as a commercial real estate loan servicer on behalf of ING’s U.S. life insurance companies and other clients. The rating also reflects the financial strength of the parent company, ING Group. While the company does not act as a CMBS loan servicer, it has more than 50 years of experience managing commercial real estate loans.
As of Sept. 30, 2009, ING IM’s total servicing portfolio was comprised of 1,369 non-CMBS loans with an unpaid principal balance of $11.1 billion. Of these loans, 1,190 totaling $8.4 billion were sub-serviced by 43 correspondents overseen by ING IM.
The servicer rating is based on the methodology described in Fitch’s reports ‘U.S. Commercial Mortgage Servicer Rating Criteria’ dated June 19, 2009, and ‘Global Rating Criteria for Structured Finance Servicers’ dated Sept. 30, 2009, available on Fitch’s web site at ‘www.fitchratings.com‘.
Fitch rates commercial mortgage primary, master, and special servicers on a scale of 1 to 5, with 1 being the highest rating. Within each of these rating levels, Fitch further differentiates ratings by plus (+) and minus (-) as well as the flat rating.
