Litton Loan Servicing Brings 270 Jobs to Henry County

ATLANTA, July 5, 2007 —Litton Loan Servicing L.P., a mortgage servicing company, is investing $14 million to build a new facility in Henry County where the company will move 170 of its current employees from an Atlanta location. The company will hire an additional 100 employees when the building opens in the fall of 2007.

Litton is building an 80,000-square-foot building at 3500 Loop Road, McDonough, Ga., that will accommodate a large customer service call center. The building will also serve as a disaster recovery center for the Houston-based company.

'With our great business climate and focus on customer service, Georgia is a natural choice for Litton's new location,' said Ken Stewart, commissioner of the Georgia Department of Economic Development. 'We welcome the company's expansion to the county and are confident its customers will experience the highest degree of satisfaction with the service our citizens provide.'

'Our presence in Georgia over the past two years has afforded us great opportunity to expand our employee base, and we are looking forward to the opportunities our new facility will bring us,' said Larry B. Litton, Jr., Litton's president and CEO. 'Henry County is a vibrant area for business and we are committed to bringing jobs to this community.'

'We're excited to have Litton Loan Servicing in Henry County,' said W.L. 'Billy' Carter, chairman of the Henry County Development Authority. 'We anticipate the company will be an integral part of our community and look forward to helping it grow.'

The company's location resulted from a partnership between the Georgia Department of Economic Development and the Henry County Economic Development Authority. Kevin Phillips was the project manager for GDEcD.

Houston-based Litton Loan Servicing is a mortgage servicing company specializing in loss mitigation and default management for residential loans. Since its inception in 1988, Litton has grown from a handful of employees servicing customers exclusively in Texas to more than 1,200 employees servicing more than 400,000 customers nationwide. Throughout its substantial growth, Litton has maintained its primary objective of preserving homeownership and keeps thousands of customers facing foreclosure in their homes each year. Litton annually receives top industry ratings from Moody's Investor Service, FitchRatings, and Standard & Poor's.

Litton is a wholly-owned subsidiary of Credit-Based Asset Servicing and Securitization LLC (C-BASS). C-BASS is a New York-based company specializing in the acquisition, servicing, and securitization of credit-sensitive residential mortgages. The union of C-BASS and Litton in 1996 produced a merger of advanced credit analytics expertise with default management experience and state-of-the-art technology. For more information, please visit www.littonloan.com and www.c-bass.com.

The Georgia Department of Economic Development (GDEcD) is the state's sales and marketing arm, the lead agency for attracting new business investment, encouraging the expansion of existing industry and small businesses, locating new markets for Georgia products, attracting tourists to Georgia, and promoting the state as a location for film, video and music projects, as well as planning and mobilizing state resources for economic development. For more information, visit www.georgia.org