NEW YORK (Standard&Poor's) July 6, 2011--Standard&Poor's Ratings Services today stated that its STRONG residential subprime and special servicer rankings and ABOVE AVERAGE residential subordinate-lien servicer ranking on Ocwen Loan Servicing LLC remain on CreditWatch with negative implications. Our rankings remain on CreditWatch negative following Ocwen's June 5, 2011, announcement that it entered into a purchase agreement to acquire Litton Loan Servicing LLC from Goldman Sachs Group Inc. The expected closing date should occur approximately 90 days-120 days thereafter. This acquisition will substantially increase Ocwen's servicing portfolio. Our original March 9, 2011, CreditWatch placement followed Ocwen's disclosure that the Federal Trade Commission (FTC) was conducting an investigation into the company's servicing operations. Standard&Poor's is satisfied
