Good experience levels; Low turnover; Several levels of internal controls; Well designed and improving systems environment; and Improved vendor oversight. We believe Shellpoint has rather aggressive growth plans, which may affect future performance; and Tax penalties are elevated. Shellpoint entered into a shared services agreement with its former parent to provide certain servicing functions; The quality control area now has a more independent reporting line to management; Vendor management is a separate department with improved processes whereas previously it was mainly the responsibility of the affected business unit; and Shellpoint is implementing new technology to provide more efficiency in certain departments, such as in customer service and collections. Standard&Poor's Ratings Services' residential prime and special servicer rankings for
