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Back-Up Servicing/Data Aggregation Services
  • SST offers various levels of back-up servicing for multiple asset classes and credit qualities. In this capacity, SST may assume successor servicing duties, if necessary. Today, SST is the back-up servicer on several billion in Asset Backed Securities (ABS) term and warehouse lines covering auto loans and leases, recreational vehicles, boats, commercial and agricultural equipment, credit cards, consumer receivables including personal loans, and other esoteric assets.

    If activated, SST can map to the originator's system for data and
    comments to ensure a seamless transition. Upon direction from the controlling party, SST's objective is to transition servicing in a timely manner seeking to maximize portfolio performance. Every deal requires a different level of servicing supervision.

  • Hot back-up servicing - responsibilities include running partial or full parallel systems with the primary servicer or mapping data to a contingent servicer with ongoing established file upload tests.

  • Warm back-up servicing - responsibilities include: system to system data mapping, receiving, reviewing and storing portfolio data files, reviewing monthly servicer reports and performing surface level verification.

  • Cold back-up servicing - SST named as possible successor servicer with minimal preliminary transition preparation.


    In addition, SST may add value to any portfolio by:

  • Creating a transition plan - for review and approval by the rating agency or bond insurer to ensure a smooth transition from back-up servicer to successor servicer.

  • Performing third-party due diligence - focusing on cash control, collections and information technology, both prior to closing and periodically thereafter.

  • Performing a monthly review of collateral regardless of back-up servicing level (hot, warm, cold), when data is provided.

  • Data Aggregation Services - SST pioneered this function in the auto securitization market. In effect, this service combines the benefits of backup servicing with the unique advantage of data aggregation. A Data Aggregation Services agreement allows
    companies to submit data on their assets across various sources. Owners, investors and issuers receive monthly reporting on all the assets owned.

    SST has experience in various aspects of back-up servicing and data aggregation services. By reviewing account level servicer data, we report on portfolio performance indicators. These include delinquencies, defaults and net losses or structural characteristics such as concentration levels and eligibility requirements. We also monitor servicer report information against account level data to ensure reporting accuracy.


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