Criterion C16: Fiduciary and Contractual Responsibilities (Transaction Level)
Effective from Dec 28 2022 - Dec 31 2022
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| 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. | |