Why are there ratio differences between CMSA Report and the Hatfield Philips Loan Quarterly Investor Report (QIR)? |
The CMSA report details ratios using the CMSA standard calculation and ratios as covenanted in each Loan Agreement. The Quarterly Investor Report only details ratios as covenanted by each Loan Agreement. |
Why can’t the servicer provide Borrower or Tenant information in the QIR? |
Data Privacy laws require certain restriction of information from being provided to the market. Germany for example has some of the strictest Data Privacy Laws in Europe. Hatfield Philips is contractually bound to the adherence of European and jurisdictional Data Privacy legislation. |
Who are the recipients of Hatfield Philips Investor Reports? |
| Hatfield Philips is a 3rd party administrative agent of the security trustee and the issuer. These parties have mandated and instructed Hatfield Philips concerning content, publication and parties to which Hatfield Philips provides any investor information. A disregard of these would breach Hatfield Philips’s contractual obligations. Only these parties can mandate the recipients, and content of Hatfield Philips investor report. |
