Servicer Evaluation: Shellpoint Mortgage Servicing

An experienced senior management team that has remained constant. An established track record of executing its business strategy to grow the performing and special servicing portfolios at a measured pace. Management expects no changes to its current business strategy following the acquisition by New Residential Investment Corp. A good control environment, with multiple lines of monitoring and testing that continue to develop. Well-designed loss mitigation technology, including its web site functionality, which could improve loss mitigation timelines. Continued process enhancements, with dedicated resources to evaluate and manage process improvement initiatives. S&P Global Ratings' rankings on Shellpoint Mortgage Servicing (SMS) are ABOVE AVERAGE as a residential primary and special servicer. On July 6, 2018, we affirmed these rankings (please see "Shellpoint

...+ An experienced senior management team that has remained constant. + An established track record of executing its business strategy to grow the performing and special servicing portfolios at a measured pace. + Management expects no changes to its current business strategy following the acquisition by New Residential Investment Corp. + A good control environment, with multiple lines of monitoring and testing that continue to develop. + Well-designed loss mitigation technology, including its web site functionality, which could improve loss mitigation timelines. + Continued process enhancements, with dedicated resources to evaluate and manage process improvement initiatives....

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