This report does not constitute a rating action. The STRONG overall ranking assigned to Bluestone Servicing Pty Ltd. as a prime and subprime residential mortgage loan servicer reflects the company's continued solid servicing quality and key servicer strengths, which include: Experienced management team and qualified servicing staff. Sound risk-management and compliance framework and resources. Robust technology platform and capability, with a fully integrated loan origination and servicing system. Comprehensive business continuity and disaster recovery plans and testing program. Well-documented policies and procedures, which are updated regularly. A servicer 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 stable outlook reflects our opinion that
