New York (Standard&Poor's) July 18, 2013--Standard&Poor's Ratings Services said today that its ABOVE AVERAGE residential mortgage subprime, special, and subordinate-lien servicer rankings for Ocwen Loan Servicing LLC (Ocwen) remain on CreditWatch with negative implications, where we initially placed them on Nov. 14, 2012. The CreditWatch placement followed the announcement of Ocwen's purchase of GMAC Mortgage LLC (GMACM), Residential Capital LLC's (ResCap's) mortgage loan servicing unit. The transaction closed on Feb. 15, 2013. Prior to the GMAC acquisition, Ocwen also acquired Homeward Residential Inc.'s (Homeward) mortgage servicing portfolio, a transaction that closed on Dec. 27, 2012. The Homeward private-label securitization loan portfolio has been fully converted onto Ocwen's REALServicing® system, while the Homeward agency loans have been
