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Criterion C16: Fiduciary and Contractual Responsibilities (Transaction Level)
No: 44047144
Date(g): 27/12/2022 | Date(h): 4/6/1444
Status: In-Force
18.154
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.
