Standard&Poor's Ratings Services has an ABOVE AVERAGE servicing ranking on Specialized Loan Servicing (SLS) as a residential subprime, second-lien, and special mortgage loan servicer. The subranking for management and organization is STRONG and the subrankings for loan/asset administration are ABOVE AVERAGE. The financial position is Sufficient. The outlook is stable. Standard&Poor's rankings on SLS reflect our view of the company's management team, internal controls and risk management, training programs, policies and procedures, demonstrated default management expertise, robust level of automation, and effective use of technology. SLS' overall portfolio statistics generally align with or are better than those of other similarly ranked residential mortgage servicers we monitor. The company's customized systems for loss mitigation and reporting, as
