Moody’s gives Freedom Mortgage CFR, loan B1

Moody's Investors Service said it assigned a B1 corporate family rating and a B1 rating to the planned $350 million MSR senior secured term loan facility of Freedom Mortgage Corp.

The outlook is stable.

Moody’s said the ratings reflect the company's strong profitability and solid capital level. Risk factors offsetting these positive attributes include Freedom's reliance on short-term secured funding, its limited franchise position as a financial services company in the residential mortgage market, the risks embedded in its rapid growth, and key man risk with respect to its president and CEO Stanley Middleman, the agency added.

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