...+ Ocwen Loan Servicing, LLC purchased certain Residential Capital LLC (ResCap) assets, including the GMAC Residential Funding Co. LLC (RFC) master servicing platform, in February 2013. Ocwen did not have a master servicing group. + We transferred and affirmed our ABOVE AVERAGE master servicer ranking of RFC to Ocwen, and issued a developing outlook; we withdrew the RFC master servicer ranking. + Ocwen maintained practically all of the highly experienced staff and infrastructure of the RFC master servicing platform. + We will monitor how Ocwen senior management maintains the master servicing management's independence on decisions that affect securities holders and in overseeing their own primary servicer. New York (Standard & Poor's) July 9, 2013--We affirmed our servicer rankings for Ocwen Loan Servicing LLC (formerly RFC) at ABOVE AVERAGE, supported by ABOVE AVERAGE subrankings for management and organization and loan administration. KEY RANKING FACTORS Strengths: + Ocwen has maintained...
