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Standard & Poor's has changed the name of its Approved Servicer List to the "Select Servicer" list.
S&P admits servicers to its Select Servicer List based on a comprehensive assessment of the firm's operational capabilities for servicing commercial mortgage, residential mortgage, or asset-backed portfolios. As part of this assessment, S&P's servicer evaluation group reviews each firm's strengths, weaknesses, opportunities and limitations within the industry pertaining to specific types of loan products.
To be included in and remain on the Select Servicer List, a firm must meet the criteria for attaining at least an "average" ranking with an outlook of "stable." Inclusion in the list reflects that a firm is, at the very least, performing its duties in an effective and controlled manner, and is in general compliance with ...