Nowadays, an increasing number of people are choosing to strengthen their standby servicing requirements. Not only does having this back-up give you peace of mind, but it also ensures that any interruption to your business is minimal if the worst-case scenario happens. We understand how important it is to have this back-up in place without overly stretching your resources and our options satisfy the needs of clients, funders, investors and rating agencies alike.
We offer three standard packages dictated by response time. You can choose the level you wish, or you can discuss the options with our servicing and IT experts who will make recommendations based on your requirements. Once a solution has been agreed on, we will carry out detailed analysis and testing of the portfolio and existing arrangements, to ensure our business continuity plan is sound and robust.
Our standby servicing options are:
- Cold – this involves a 60 to 90 day boarding process onto our platform and includes product assessment and backup facilities.
- Warm – this allows for boarding between 30 and 60 days, and includes the creation of a custom data mapping template, a lender procedure review and periodic data backups.
- Hot – this involves immediate standby service and sees boarding happen normally within two days. It requires full test portfolio setup onto our platform and includes regular portfolio updates and assessments.
We know that having to change service agreements is not ideal, but we have a proven portfolio migration track record from numerous lenders and servicing platforms and can help put your mind at rest. Should you need us to step in to take over your portfolio servicing requirements, you can be sure of a smooth transition and excellent service.