Shellpoint Mortgage Servicing ABOVE AVERAGE Residential Primary And Special Servicer Ranking Affirmed; Outlook Is Stable

OVERVIEW We affirmed our ABOVE AVERAGE rankings on Shellpoint Mortgage Servicing as residential primary and special servicer. Shellpoint Mortgage Servicing has an experienced management team and staff and expanded its portfolio through new originations flow from its parent, New Penn Financial, as well as new subservicing clients. The company continues to develop and utilize more sophisticated technology to improve the control environment and process efficiencies. The outlooks for the rankings are stable. NEW YORK (Standard&Poor's) Oct. 6, 2015--Standard&Poor's Ratings Services' affirmed its ABOVE AVERAGE residential primary and special servicer rankings on Shellpoint Mortgage Servicing (Shellpoint). We also affirmed our ABOVE AVERAGE subrankings for management and organization and for loan administration. The outlooks for the rankings are

...OVERVIEW + We affirmed our ABOVE AVERAGE rankings on Shellpoint Mortgage Servicing as residential primary and special servicer. + Shellpoint Mortgage Servicing has an experienced management team and staff and expanded its portfolio through new originations flow from its parent, New Penn Financial, as well as new subservicing clients. + The company continues to develop and utilize more sophisticated technology to improve the control environment and process efficiencies. + The outlooks for the rankings are stable. NEW YORK (Standard & Poor's) Oct. 6, 2015--Standard & Poor's Ratings Services' affirmed its ABOVE AVERAGE residential primary and special servicer rankings on Shellpoint Mortgage Servicing (Shellpoint). We also affirmed our ABOVE AVERAGE subrankings for management and organization and for loan administration. The outlooks for the rankings are Stable. KEY RANKING FACTORS + Experienced management team with additional leadership added to key areas of the organization. + Overall management...

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