Servicer Evaluation: Shellpoint Mortgage Servicing

S&P Global Ratings' rankings on Shellpoint Mortgage Servicing (Shellpoint, or The Company), a division of Newrez LLC (Newrez), are ABOVE AVERAGE as a residential mortgage loan primary and special servicer. On Jan. 25, 2022, we affirmed the rankings (please see " Shellpoint Mortgage Servicing Residential Mortgage Primary, Special Servicer Rankings Affirmed; Ranking Outlooks Stable "). The ranking outlook is stable for each ranking. Our rankings reflect Shellpoint's: Well-experienced senior leadership team, while middle management exhibits lower experience averages compared to peers. Continued commitment to its range of recruiting strategies, its sound new-hire training program, and focus on staff development. Solid internal control framework with multiple lines of defense that include independent oversight and testing as well as dedicated quality assurance

...+ It made enhancements to its recruiting program such as establishing a new internship program and implementing assessments to evaluate new-hire candidates' suitability for the role. + It enhanced its systems to automatically import complaints from the borrower website into the complaint tracking database. + It added an additional senior leader to the customer service area, increased customer service staff, and added a vendor to handle certain calls during times of peak volume. + It enhanced its call center infrastructure with a new telephony system and a new customer relationship management system to improve agent efficiency. + It implemented virtual hold technology to manage service levels during periods of high call volume. + It expanded the website functionality to present borrowers with a loan modification offer in real-time in cases where documentation is not required. + It transitioned the handling of property tax related calls to its tax vendor. The ranking outlook is stable for...

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