S&P Global Ratings agency adds The StoneHill Group to list of third-party review firms
ATLANTA, GA (February 12, 2019) — The StoneHill Group (TSG), a national third-party mortgage services firm, today announced that S&P Global Ratings has added the company to its list of third-party review firms (TPRs). This addition signals that S&P Global Ratings has completed its comprehensive assessment of TSG and, in its opinion, determined the firm meets the assessment factors discussed in its guidelines, “Methodology and Assumptions for Rating U.S. RMBS Issued 2009 And Later,” published Feb. 22, 2018. The addition was recently posted on S&P Global Ratings’ publication RatingsDirect®.
“We are thrilled to add S&P Global Ratings to the list of national recognized statistical ratings organizations (NRSROs)that have reviewed and recognized TSG among the firms available to perform due diligence on rated RMBS transactions,” said Patrick Gluesing, TSG’s President and Chief Operating Officer. “Our position as a leader in agency quality control and post-closing loan forensics provided a natural extension for us into private RMBS reviews. The market has more than learned its lessons from the crisis of the last decade, and we are bullish on private securitization returning to the market in a major way. The current concentration of TPR work is a risk for issuers and investors alike. We stand ready to support issuers and other participants in minimizing risk in all their loan forensic needs.”
In addition to S&P Global Ratings, TSG is accepted for third party RMBS review work with Moody’s, Kroll Bond Ratings Agency (KBRA), and DBRS.
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