Servicer Evaluation: Shellpoint Mortgage Servicing

S&P Global Ratings' rankings on Shellpoint Mortgage Servicing (SMS) are ABOVE AVERAGE as a residential mortgage loan primary and special servicer. On March 17, 2020, we affirmed the rankings (please see "Shellpoint Mortgage Servicing ABOVE AVERAGE Residential Primary And Special Servicer Rankings Affirmed; Outlooks Stable," published March 17, 2020). The outlooks for both rankings are stable. Our rankings reflect: A seasoned and well-experienced senior management team. Sound internal controls that continue to season. A focus on mitigating borrower and operational impact related to boarding a large volume of loans. Servicing-performance metrics that are mostly competitive with similarly ranked peers. A dedicated staff to manage its special servicing portfolios. Its servicing strategies and loss mitigation technology to effectively manage non-performing or

...+ The combined prime and special servicing portfolio increased 126% in loan count during 2019. + It implemented a voice analytics technology to enhance call monitoring capabilities. + It implemented new workflow-driven technology such as a vendor management and short sale processing systems. + For large loan transfers, it created a website that borrowers can use before their loan boards the servicing system. + It made a number of website enhancements, including additional borrower self-service capabilities. + It established an in-line quality assurance team within the foreclosure area. + It established a team to handle verbal complaints....

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