Since 2007, the TSI Congress has established itself as an important event for the securitization and asset-based finance markets. In 2023, it attracted more than 600 guests. These included representatives from supervisory authorities such as the Deutsche Bundesbank and the ECB, political decision-makers, EU representatives, investors, trade associations and specialist media.
In 2024, the TSI Congress will take place at 10. and October 11th. The speakers include Dr. Clifford Tjiok, CCO of the LOANCOS Group. He will be speaking on the subject of back-up servicing. This service ensures receivables management for investors in the event of a default or disruption of the primary service provider.
Cooperation with back-up servicers is particularly common in ABS (asset-backed securities) structures in order to:
- ensure the flow of funds and
- To ensure certainty of action for market participants in transactions if the primary servicer fails.
Example: Vivacon AG
The LOANCOS Group has extensive experience as a back-up service provider for the German market. One example of this is Vivacon AG. LOANCOS took over the servicing here when the company went into insolvency. A former subsidiary of the LOANCOS Group managed around 20,000 residential units in the portfolio and took on tasks such as:
- Payment transactions: collecting, booking, monitoring and dunning ground rent payments
- Intensive support: make arrangements for the settlement of arrears and, weighing up the interests, initiate further measures if necessary
- Change of benefits and encumbrances: Checking the contracts from the perspective of the landowner and granting the necessary approvals when changing the leaseholder (sale of the leasehold)
- Ground rent increase: Regular implementation of the agreed ground rent increases
- Data up-to-dateness: Ongoing updating of the data on the leaseholders
- Data storage: Storage and availability of the documents required for servicing
- Reporting: Regular report based on the requirement for the client
- Relationship Management
Find out more about the LOANCOS Group’s back-up servicing
