Servicer Evaluation: Newrez LLC

S&P Global Ratings' rankings on Newrez LLC are ABOVE AVERAGE as a residential mortgage loan primary and special servicer. On Sept. 15, 2023, we affirmed the rankings (see "Newrez LLC ABOVE AVERAGE Residential Mortgage Loan Primary And Special Servicer Rankings Affirmed"). The ranking outlook is stable for each ranking. Our rankings reflect Newrez's: Senior leadership team's industry experience including managing performing and non-performing loans, although the average experience is lower than peers'; Successful track record in boarding large bulk servicing portfolios and integrating servicing operations; Comprehensive internal control framework comprised of three lines of defense to monitor and detect risk; Continued commitment to its range of recruiting strategies, its sound new-hire training program, and staff development initiatives; Systems and technology

...S&P Global Ratings' rankings on Newrez LLC are ABOVE AVERAGE as a residential mortgage loan primary and special servicer. On Sept. 15, 2023, we affirmed the rankings (see "Newrez LLC ABOVE AVERAGE Residential Mortgage Loan Primary And Special Servicer Rankings Affirmed"). The ranking outlook is stable for each ranking. Our rankings reflect Newrez's: + Senior leadership team's industry experience including managing performing and non-performing loans, although the average experience is lower than peers'; + Successful track record in boarding large bulk servicing portfolios and integrating servicing operations; + Comprehensive internal control framework comprised of three lines of defense to monitor and detect risk; + Continued commitment to its range of recruiting strategies, its sound new-hire training program, and staff development initiatives; + Systems and technology that are effective along with enhancements to support its growing portfolio; + Efficient and well-controlled loan administration...

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