Standard&Poor's has assigned its ABOVE AVERAGE ranking to Ocwen Federal Bank FSB (Ocwen) as a commercial mortgage loan servicer. The ABOVE AVERAGE ranking is based on the company's fully documented procedures, sound operating controls, solid and highly tenured management team, and effective reporting capabilities. The bank has successfully maintained the quality of its servicing operation while transforming its portfolio base from owned investments to third-party client assets. While commercial mortgage servicing has traditionally functioned primarily as a support function for Ocwen's main business of buying distressed loans at discount, the bank is investing resources in enhanced servicing technology that will provide certain added efficiencies and allow for even greater flexibility in servicing larger loan volumes. Concurrently, Standard&
