Difference between revisions of "Non-Performing Loan Servicer"
From Open Risk Manual
Wiki admin (talk | contribs) |
Wiki admin (talk | contribs) |
||
| Line 1: | Line 1: | ||
== Definition == | == Definition == | ||
A '''Non-Performing Loan Servicer''' is a specialized financial services entity that engages in certain stages of the [[Non-Performing Loan]] [[NPL Life Cycle | lifecycle]]. The primary objective of the [[Servicer]] is to collect payments and manage the non-performing credit assets on behalf of the entity that originated (or last held) these assets. | A '''Non-Performing Loan Servicer''' is a specialized financial services entity that engages in certain stages of the [[Non-Performing Loan]] [[NPL Life Cycle | lifecycle]]. The primary objective of the [[Servicer]] is to collect payments and manage the non-performing credit assets on behalf of the entity that originated (or last held) these assets. | ||
| + | |||
| + | A Servicer is a [[Legal Person]] acting on behalf of credit purchasers and managing rights and obligations under a non-performing credit agreement such as [[Collections | payments collection]] or [[Renegotiation]] of the terms of the agreement. | ||
== Synonyms == | == Synonyms == | ||
Revision as of 12:32, 9 June 2021
Definition
A Non-Performing Loan Servicer is a specialized financial services entity that engages in certain stages of the Non-Performing Loan lifecycle. The primary objective of the Servicer is to collect payments and manage the non-performing credit assets on behalf of the entity that originated (or last held) these assets.
A Servicer is a Legal Person acting on behalf of credit purchasers and managing rights and obligations under a non-performing credit agreement such as payments collection or Renegotiation of the terms of the agreement.
Synonyms
- Special Servicer
Functions
- NPL Strategy
- Collections and Legal Procedures (Enforcement)
