Standard&Poor's Ratings Services' ranking on Selene Finance LP (Selene) as a residential mortgage special servicer is ABOVE AVERAGE. The outlook is stable. Selene is an indirect wholly owned subsidiary of Selene Holdings LLC. Since our last review, Selene has successfully added staff to the organization commensurate with growth in its special servicing portfolio. Certain recent hires, including two executive managers, were formerly with a large special servicer and thus bring a wealth of expertise to the operation. Additionally, the company introduced a more segmented and expanded management and staff. For example, there are now separate foreclosure and bankruptcy managers, asset analysts to assist with portfolio workout analysis, and dedicated portfolio managers to handle inquiries from investors. Management has
