...MELBOURNE (Standard & Poor's) June 5, 2015--Standard & Poor's Ratings Services today affirmed its ABOVE AVERAGE ranking on Bluestone Servicing Pty Ltd. and Bluestone Servicing NZ Ltd. (collectively Bluestone Servicing) in their roles as prime and subprime residential mortgage loan servicers. The outlook on the ranking is stable. A ranking is a statement of opinion and not a statement of fact. A ranking is not and should not be represented as a credit rating. The ranking reflects the companies' experienced management team and high competence in the use of technology in their servicing operations. Moderating factors are the companies' risk-management and compliance framework/resources and audit framework/resources, which we believe are adequate for its business, but are not strong compared with industry best practices. Bluestone Servicing's key servicer strengths include: + Well-documented policies and procedures, which are updated regularly. + Strong information technology capability, with...
