NEW YORK--(BUSINESS WIRE)--
Fitch Ratings places Walker & Dunlop Capital, LLC's (formerly known as
CWCapital LLC) master and primary servicer ratings of 'CMS3' and 'CPS2+'
on Rating Watch Negative following the sale of CWCapital's master and
primary servicing operations to Walker & Dunlop, LLC.
On Sept. 4, 2012, Walker & Dunlop, LLC, a subsidiary of Walker & Dunlop,
Inc. (NYSE: WD) completed the acquisition of CWCapital LLC, renaming it
Walker & Dunlop Capital, LLC.
The Rating Watch Negative status is due to the uncertainty surrounding
the integration, staffing and financial condition of the Walker and
Dunlop servicing operations. Fitch expects to resolve the rating watch
status following an operational review of the integrated Walker & Dunlop
servicing platform before the end of 2012.
The servicer rating is based on the methodology described in Fitch's
reports 'U.S. Commercial Mortgage Servicer Rating Criteria,' dated Feb.
18, 2011, and 'Global Rating Criteria for Structured Finance Servicers'
dated Aug. 16, 2010, available on Fitch's web site www.fitchratings.com.
Additional information is available at 'www.fitchratings.com'.
The ratings above were solicited by, or on behalf of, the issuer, and
therefore, Fitch has been compensated for the provision of the ratings.
Applicable Criteria and Related Research:
--'U.S. Commercial Mortgage Servicer Rating Criteria' Feb. 18, 2011;
--'Global Rating Criteria for Structured Finance Servicers' Aug. 16,
2010.
Applicable Criteria and Related Research:
Global Rating Criteria for Structured Finance Servicers
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=547305
U.S. Commercial Mortgage Servicer Rating Criteria
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=584005
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Fitch Ratings
Primary Analyst
Howard Miller, +1 212-908-0737
Director
Fitch,
Inc.
One State Street Plaza
New York, NY 10004
or
Secondary
Analyst
James Bauer, +1 212-908-0343
Associate Director
or
Committee
Chairperson
Chris Bushart, +1 212-908-0606
Senior Director
or
Media
Relations:
Sandro Scenga, +1 212-908-0278
Email: sandro.scenga@fitchratings.com
Source: Fitch Ratings