August 12, 2008, New York - Standard & Poor's Ratings Services today affirmed its STRONG ranking on Cenlar FSB (Cenlar), a wholly owned subsidiary of Cenlar Capital Corp. (CCC), as a residential mortgage loan servicer. The outlook is stable.

         Cenlar continues to maintain a solid infrastructure and sound controls in its servicing organization. The company has a well-seasoned management team; solid internal controls and risk management; thorough policies and procedures; extensive and comprehensive training programs; and demonstrated default management expertise. Cenlar also exhibits an excellent level of automation and an effective use of technology. Metrics provided by Cenlar through Standard & Poor's Servicer Evaluation Analytical Methodology (SEAM) questionnaire indicate that the company compares favorably with similarly ranked residential mortgage industry participants.

         Cenlar frequently evaluates its servicing operations technology, applications, and processes to improve its operating efficiencies through reengineering, investing in technology, and contracting with vendors to perform traditional services. The company's impressive level of automation, solid management team, and default management expertise allows Cenlar to continue to minimize portfolio risk through reliable internal controls and prudent loan servicing practices. Cenlar evidences solid delinquency statistics when compared against relevant averages as reflected by the Mortgage Bankers Association of America. In an effort to reduce borrower payment hardships and minimize future losses, Cenlar is working with its clients to bring proactive policies with regard to adjustable-rate mortgage (ARM) resets into place. The company's extensive and comprehensive training programs, along with management's commitment to employee development, have enabled Cenlar to retain employees.

Outlook
         The outlook is stable for residential mortgage servicing. Over the next 12 months, Cenlar will focus on maintaining its sound operational performance and ensuring that it has appropriate staff and technology in place to manage growth. Cenlar is an approved seller/servicer with the Government National Mortgage Association (Ginnie Mae), Federal Home Loan Bank (FHLB), Federal Home Loan Mortgage Corp. (Freddie Mac), Federal Housing Administration (FHA), and Federal National Mortgage Association (Fannie Mae). Management remains committed to growing its residential mortgage subservicing business and Standard & Poor's anticipates that Cenlar will remain a solid residential mortgage loan servicer for a wide variety of investors.

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