The sponsor should ensure that it receives representations from the sellers(s) and all other parties responsible for originating and servicing the asset pools that they:
(1)
Have well-documented procedures and policies in place to ensure appropriate servicing of the underlying assets;
(2)
Have expertise in the origination of same or similar assets to those in the asset pools;
(3)
Have extensive servicing and workout expertise, thorough legal and collateral knowledge and a proven track record in loss mitigation for the same or similar assets;
(4)
Have expertise in the servicing of the underlying credit claims or receivables;and
(5)
Are supported by a management team with extensive industry experience.
Book traversal links for Criterion C16: Fiduciary and Contractual Responsibilities (Transaction Level)