Experienced and tenured senior management team; Effective and comprehensive employee training and development program; Historically low mortgage loan delinquency rates; Integrated and effective technology systems; Comprehensive subservicer (Seller/Servicer) oversight program; Sound audit and control environment, albeit with a longer-than-average internal audit cycle compared to those of most servicers; Homogenous multifamily property portfolio, with limited exposure to other commercial property types; Continued financial support and implicit guarantee from the U.S. government; and Conservatorship under the Federal Housing Finance Agency (FHFA), with an uncertain future. S&P Global Ratings' ranking on Freddie Mac Multifamily Asset Management and Operations (AMO) as a commercial loan master servicer is ABOVE AVERAGE. The outlook for the ranking is stable. The ranking reflects our view of the company's
