Criterion C16: Fiduciary and Contractual Responsibilities (Transaction Level)
No: 44047144
Date(g): 27/12/2022 | Date(h): 4/6/1444
Status: In-Force
Effective from Jan 01 2023 - Dec 31 2022 To view other versions open the versions tab on the right
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.
