The special servicer rating reflects Fitch's assessment of the company's strong management and experienced asset managers, internal controls with thorough policies and procedures and use of technology for quality control, as well as the financial strength of OCM's ultimate parent, ORIX Corporation. The rating also reflects OCM's 24 month internal audit cycle and limited but flexible staffing structure.
The rating reflects stabilization of turnover since Fitch's last review; in the last 12 months, OCM experienced overall turnover of 7% as one staff level employee left the company. In 2013, the company experienced overall turnover of 92% in conjunction with a large reduction of active special servicing volumes through a bulk sale. Subsequent to the staff reduction, OCM retained an experienced asset management team of seven with over 21 years of experience and maintains a strong leadership team with two senior managers and three middle managers averaging 27 years of experience.
Additional information is available at 'www.fitchratings.com'.
--'U.S. Commercial Mortgage Servicer Rating Criteria' (
--'Rating Criteria for Structured Finance Servicers' (
Rating Criteria for U.S. Commercial Mortgage Servicers
Rating Criteria for Structured Finance Servicers
Source: Fitch Ratings
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