Providing replacement servicing when needed
Hatfield Philips provides a comprehensive Back-up Servicing solution to lenders and investors who are looking to manage their risk and provide reassurance to the market that their deals are robust and can survive whatever happens.
Stand By Servicers sit on the sidelines of a deal until an event trigger (such as a Ratings downgrade or
Servicer insolvency) brings them in to replace the current Servicer. With Rating Agencies now explicitly factoring in to their ratings the ease with which replacement
Servicers can be found this role is more important than ever.
HP’s Stand By Servicer role will provide comfort to investors and Rating Agencies alike that should a transfer event ever occur then Europe’s largest Servicer is ready to step in and ensure smooth running of the transaction. Hatfield Philips is a trusted partner, ensuring that our clients’ operational requirement are picked up and managed where others leave off. For each engagement we work with our clients to ensure we deliver the exact elements they need.
Back-up Servicing comes in a variety of flavours, ‘cold’, ‘warm’ and ‘hot’, all of which Hatfield Philips can deliver;
“Hot” Stand By Servicing
HP will hold and store monthly and quarterly loan level data, which will be held and actively managed on HP System in parallel with the Servicer.
“Warm” Stand By Servicing
HP will hold monthly and quarterly loan level data which will be stored on HP Systems and will be updated ‘live’.
“Cold” Back Up Servicing
HP will hold and store monthly loan level data on back up files but will not actively monitor loan performance