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Abstract
The financial crisis and the rash of mortgage defaults put the servicing of securitized residential mortgage loans under severe stress and raised some important issues related to the way the role of the servicer is defined. This article focuses on major considerations that bondholders, primary servicers, trustees, and other transaction parties should contemplate while structuring future transactions. Specifically, the article highlights the following issues in depth: default servicing activities, the role of servicers in non-servicing activities, and the replacement of servicers. In the course of discussing these issues, the author also proposes solutions to consider in connection with future transactions.
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Alternatively, Call a member of the team to discuss membership options
US and Overseas: +1 646-931-9045
UK: 0207 139 1600