The rankings for Specialized Loan Servicing LLC (SLS) as a Residential Subprime, Subordinate Lien, and Special Mortgage Loan Servicer are raised to ABOVE AVERAGE. The outlook is stable. Since Standard&Poor's Ratings Services' last review, Lexia LLC (Lexia), a wholly owned subsidiary of Shinsei Bank, has become the company's majority (82.35%) owner. Shinsei Bank is rated by Standard&Poor's, and for more information, please refer to RatingsDirect, the real-time Web-based source for Standard&Poor's credit ratings, research, and risk analysis. The rankings reflect the company's experienced management team, solid internal controls and risk management, dedicated, extensive, and comprehensive training programs, thorough and well-developed policies and procedures, sound default management expertise, a robust level of automation, and an
