Servicer
Definition
A Servicer in the context of a Securitization is an entity assuming the responsibilities of servicing the securitisation assets (Transferred Receivable) including processing of cash flows, managing delinquent accounts etc.
Details
The responsibilities of the Servicer are laid out in detail in the Servicing Agreement. the Servicer typically collects all amounts due to the Issuer in respect of the Transferred Receivables, administers the Loan Portfolio and preserves and enforces all of the Issuer rights relating to the Transferred Receivables. The Servicer prepares and submits monthly reports in respect of the performance of the Transferred Receivables in the form set out in the Servicing Agreement
Variations
Issues and Challenges
None
See Also
None
Disclaimer
- This information is provided as is without any representation of correctness, completeness or suitability for any purpose whatsoever. Refer to actual securitisation prospectuses for the definitive terms applicable in each case
- Definitions, detailed descriptions and other content may change at any time as further examples or relevant aspects are introduced
This entry annotates a FIBO Ontology Class. FIBO is a trademark and the FIBO Ontology is copyright of the EDM Council, released under the MIT Open Source License. There is no guarantee that the content of this page will remain aligned with or correctly interprets the concepts covered by the FIBO ontology.
Field Type | Legal Text + |
Has Formula | False + |
Has Lambda | False + |
Has Object | False + |
IsDefinedBy URI of an entity that is defined via an imported vocabulary. | https://spec.edmcouncil.org/fibo/ontology/BP/SecuritiesIssuance/MuniIssuance/index-en.html + |