Shellpoint Mortgage Servicing ABOVE AVERAGE Residential Primary, Special Servicer Rankings Affirmed

OVERVIEW We affirmed our ABOVE AVERAGE residential primary and special servicer rankings for Shellpoint Mortgage Servicing (fka Resurgent Mortgage Servicing); It was acquired by New Penn Financial LLC in late 2013, with the transaction closing in the first quarter of 2014; There is no planned changes to personnel as a result of the acquisition; and Shellpoint is leveraging its new parent to expand its portfolio by boarding newly originated prime loans, while also continuing to purchase other assets that require special servicing. NEW YORK (Standard&Poor's) May 30, 2014--Standard&Poor's Ratings Services today affirmed its ABOVE AVERAGE residential primary and special servicer rankings on Shellpoint Mortgage Servicing. The outlook is stable for both rankings. Major Ranking Factors And

...OVERVIEW + We affirmed our ABOVE AVERAGE residential primary and special servicer rankings for Shellpoint Mortgage Servicing (fka Resurgent Mortgage Servicing); + It was acquired by New Penn Financial LLC in late 2013, with the transaction closing in the first quarter of 2014; + There is no planned changes to personnel as a result of the acquisition; and + Shellpoint is leveraging its new parent to expand its portfolio by boarding newly originated prime loans, while also continuing to purchase other assets that require special servicing. NEW YORK (Standard & Poor's) May 30, 2014--Standard & Poor's Ratings Services today affirmed its ABOVE AVERAGE residential primary and special servicer rankings on Shellpoint Mortgage Servicing. The outlook is stable for both rankings. Major Ranking Factors And Key Changes Strengths: + Good experience levels; + Low turnover;...

Ratings Action