Servicer Evaluation: Selene Finance L.P.

S&P Global Ratings' rankings on Selene Finance L.P. (Selene) are ABOVE AVERAGE and AVERAGE as a residential mortgage loan special servicer and primary (prime) servicer, respectively. On July 24, 2023, we affirmed the residential mortgage loan special servicer and prime servicer rankings (see "Selene Finance L.P. Residential Special Servicer And Primary Servicer Rankings Affirmed; Ranking Outlooks Stable," published July 24, 2023). The ranking outlook is stable as a residential mortgage loan special servicer and as a prime servicer. Our rankings reflect: Senior and middle managers that exhibit competitive experience levels; A capable information technology (IT) environment that uses both vendor and proprietary applications; An internal control environment that relies on a three-lines-of-defense model for oversight of the servicing operation in

...S&P Global Ratings' rankings on Selene Finance L.P. (Selene) are ABOVE AVERAGE and AVERAGE as a residential mortgage loan special servicer and primary (prime) servicer, respectively. On July 24, 2023, we affirmed the residential mortgage loan special servicer and prime servicer rankings (see "Selene Finance L.P. Residential Special Servicer And Primary Servicer Rankings Affirmed; Ranking Outlooks Stable," published July 24, 2023). The ranking outlook is stable as a residential mortgage loan special servicer and as a prime servicer. Our rankings reflect: + Senior and middle managers that exhibit competitive experience levels; + A capable information technology (IT) environment that uses both vendor and proprietary applications; + An internal control environment that relies on a three-lines-of-defense model for oversight of the servicing operation in addition to a sound call monitoring program; + Internal audit (IA) and quality control (QC) reports that mainly reflected satisfactory results;...

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