Moody's Investors Service lowered ratings on about $300 million of Source One Mortgage Corp.'s securities, saying the company's recent buildup in subservicing may not be sustainable.

Source One, of Farmington Hills, Mich., quickly became one of the largest subservicers in the nation earlier this year, when it sold $17 billion of its servicing portfolio to Chase Manhattan Mortgage and agreed to subservice the loans for Chase for at least a year.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.