|
Back-up Servicing
CenterOne Financial Services has extensive experience and expertise in
vehicle sales finance and lease servicing and collections. We have the desire, ability and capacity
to quickly support back-up and successor servicing of asset-backed portfolios when a servicer is
removed or resigns. Our back-up services range from hot to cold, depending on risk and client preferences.
 |
|
 |
|
CenterOne provides comprehensive, customizable services and analysis that
complements the primary servicer's reporting including:
 |
Forecasts |
|
Highlights |
|
Perspectives on operations, portfolio management, & financial results |
|
|
 |
CenterOne employs proprietary tools and associates with extensive experience in
servicing portfolios. We support originators and lenders with their required analysis regarding asset
type, demographics, static pools, net cash flows, trends and residual realization projections.
In the event of a necessary servicer transfer, CenterOne monitors the transition process among the former
servicer and the owner, originator and trustee. By maintaining the latest account level information, CenterOne
will respond to a servicer transfer crisis, ensuring minimal disruption of servicing activity or monthly
bondholder payments.
Upon the trigger of a conversion request, CenterOne will contact the current servicer to discuss data conversion,
cash management, document transfer and critical account processing.
|
|
|
|
|
|
The conversion plan includes the following: |
|
|
|
|
|
|
 |
Perform due diligence review and required on-site servicer visits
|
|
|
|
Convert all retail/lease data files
|
|
|
|
Notify vendors and insurance companies of the servicer change
|
|
|
|
Conduct portfolio analysis and determine portfolio strategy
|
|
|
|
Implement servicing solution to support strategy
|
|
|
|
Identify pending actions and critical issues
|
|
|
|
Review historical investor reports and bank reconciliations
|
|
|
|
Inventory/image retail/lease documentation
|
|
|
