Back up Servicing
Back up

Back up Servicing

Stargate Group offers various levels of back-up servicing for different types of asset classes.  As a back-up Servicer, Stargate provides oversight on transactions spanning numerous asset classes and credit qualities.   In this capacity and if necessary, Stargate also stands ready to assume successor servicing duties.

Asset Class Range

loanPACK is able to provide back-up servicing for any of the following asset classes:

  • Residential & Commercial Mortgages (Prime, Sub-Prime & Non-Conforming);
  • Auto loans and leases;
  • Commercial or agricultural equipment receivables;
  • Credit card receivables;
  • Consumer receivables (including personal loans).
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Seamless Integration

loanPACK replicates the exact systems used by the originator to ensure a seamless transition to back up servicing.  Utilising a system that already works for the originator ensures that data transfer and reporting are interchangeable between the originator and loanPACK.  There is no need for mapping the originators data systems to an independent system. 

Upon direction from the originator, loanPACKs' primary goal is to transition servicing in a manner that maximizes portfolio value through rapid transfer.  Replicating data into a new system does not achieve this goal. 

Multiple Servicing Options

Each customer requires a different level of servicing supervision. Accordingly, all back-up servicing solutions are individually tailored to the customers needs.  Our experienced back-up servicing analysts will monitor existing servicing performance and then prepare a suitable back-up model based on the originators requirements. 

  • Hot back-up servicing – responsibilities vary but can include: running partial or full parallel systems with the primary Servicer.
  • Warm back-up servicing – responsibilities vary but can include: receiving, reviewing and storing portfolio data files, reviewing monthly Servicer reports or performing various collateral analysis.
  • Cold back-up servicing – loanPACK named as possible successor Servicer with minimal preliminary transition preparation.

Research more about Stargate Group products and services by downloading a brochure.

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