Quantum Servicing Corp., the special servicing unit of Clayton Holdings Inc., Shelton, Conn., has been added to the Standard & Poor's Select Servicer List.S&P admits servicers to the list based on a "comprehensive assessment" of their operational capabilities for servicing residential mortgage, commercial mortgage, or asset-backed portfolios. "We see significant demand for independent servicing platforms that can help investors and asset managers maximize value and returns at this stage of the credit cycle," said Keith Johnson, president and chief operating officer of Clayton. "Inclusion on S&P's Select Servicer List is a significant step towards expanding our special servicing business to mortgage-backed security transactions and to diversifying our revenue sources." The companies can be found online at http://www.clayton.com and http://www.standardandpoors.com/ratings.
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The deal will repay principal on a monthly basis, with senior expenses and fees first, unpaid interest payments on the class A and class B notes, then amounts to satisfy the coverage tests or to fund a principal reserve, if any.
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