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CenterOne has extensive experience in back-up servicing for financial institutions and ABS (Asset-Backed Securities) funding structures for
automobiles, boats, RVs, motorcycles and power sports. We can provide hot and cold back-up servicing, depending on your risk and preferences, and we
regularly work with rating agencies, underwriters, and trustees to build effective, customized programs.
Transition Servicing
In the event of a necessary servicer transfer – including the removal or resignation of a servicer – CenterOne executes the transition
process in coordination with the existing servicer, controlling party and trustee in order to provide a smooth transition with 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, as well as develop a plan of action.
The Transition Plan
- Perform due diligence review and required on-site servicer visits
- Convert all retail/lease data files
- Conduct portfolio analysis and determine portfolio strategy
- Implement servicing solution to support strategy
- Notify vendors and insurance companies of the servicer change
- Identify pending actions and critical issues
- Inventory/image retail/lease documentation
Contact us for a custom presentation on how CenterOne’s transfer expertise can maximize your
portfolio management risks during a transfer, including special crisis plans.
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