NEW YORK (Standard&Poor's) Oct. 16, 2012--Standard&Poor's Ratings Services said today that its ABOVE AVERAGE residential subprime, special, and subordinate-lien rankings on Ocwen Loan Servicing LLC (Ocwen) are not immediately affected by the company's Oct. 3, 2012, announcement that it will purchase Homeward Residential Inc. for approximately $588 million in cash and $162 million in Ocwen convertible preferred stock. The company plans to complete the transaction by year-end 2012. Homeward Residential serviced approximately 400,000 accounts as of June 30, 2012, and Standard&Poor's maintains ABOVE AVERAGE residential prime and subprime servicer rankings, as well as AVERAGE residential special and subordinate-lien servicing rankings on Homeward Residential. Ocwen's acquisition of Homeward Residential will substantially increase the number of
