As a number of the nation's largest subprime mortgage companies parcel off servicing rights, investors are becoming increasingly concerned over the ability for the lenders to provide seamless servicing transitions.

What's more, some are shying away from seasoned bonds altogether because they have little faith in servicing ability. "Because of the dislocation of servicing and control, it's very difficult for us to stay in seasoned bonds," one asset manager said. "Servicing issues are huge right now."

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