Services : Surveillance

RMG began offering credit risk management and surveillance services to the market in April, 2003. Our role is to protect the interest of our clients in ensuring that the servicer is servicing the loans in accordance to industry best practices. RMG's mission is to Minimize risk and Maximize returns for our clients and/or the investors in a particular securitization. RMG continually distinguishes itself from the competition through our attention to detail, expertise, robust reporting capabilities and flexibility in adapting to client's project needs. Today, we offer clients the following surveillance services. Please keep in mind that in the event you require a service that is not listed below, we will gladly accommodate your needs.



SECURITIZATIONS

Credit Risk Management

All Inclusive Role - on new securitizations
Reconciliation of Final Loan Schedule to Initial Servicer Tape and Resolution of Discrepancies
Monthly Loan Level Reporting on Pool Performance and Corrective Servicer Action
Benchmarking of Servicers Against FNMA and/or Industry Guidelines
Monitor Servicer Performance Against PSA Guidelines and Deal Triggers
Liquidation Analysis and Validation
Loss Mitigation and Default Management
Collateral and Trust Report Reconciliation
Prepayment Premium and Insurance Claim Tracking

Investor Oversight Role - on new or seasoned securitizations

Monthly Loan Level Reporting on Pool Performance and Corrective Servicer Action
Loss Mitigation and Default Management
Prepayment Premium and Insurance Claim Tracking
Collateral and Trust Report Reconciliation
Delivery of Uniform Data Upload for all Deals


WHOLE LOANS

RMG offers a "cradle to grave" suite of services for those participants interested in purchasing whole loan pools. From the time the bid is won, RMG stands prepared to perform a comprehensive due diligence review. The depth and scope of the review would be determined by our clients. In addition to the standard credit and compliance reviews, the following list is a representative sample of some of the additional scope items that may be added to the review based upon your needs. This list is by no means meant to be all inclusive:

Review and Summarize Servicer Comments
Review Pay Histories
Order and Reconcile New BPOs
SSN Verification
Fraudguard Search
MERS Search
Banko Search
Income Verification (Work Number, Salary.com)
Willingness/Ability Assessment

Once the due diligence review has been completed and the deal closed, RMG's surveillance services would then be prepared to oversee and manage the servicer as they service the loans you purchased. The breadth and depth of our surveillance process is determined by our clients. Our services range from merely a reporting and oversight role, to actively managing the servicer through the critical components of the servicing process, for example:

Approve all loss mitigation actions on a loan by loan basis prior to implementation
Ensure that all timelines are being met (i.e. FC, BK, etc)
Validate decision to foreclose prior to actual referral to attorney
Approve all foreclosure bids for all loans that do not have MI in accordance with client's criteria
Approve all short sale decisions in accordance with client's criteria
Approve all deed-in-lieu decisions in accordance with client's criteria
Approve all charge off decisions in accordance with client's criteria
Approve all REO marketing plans in accordance with client's criteria
Approve the acceptance of all REO offers in accordance with client's criteria

The above list is not meant to be all inclusive but to serve as an example of the depth of RMG's involvement in the overall servicing process.

In the event that our client has the personnel in place to perform the above tasks, RMG also has the capability of supplying our client with the technology infrastructure to support their business through a system licensing arrangement.

Those clients who purchase whole loan pools and engage us to perform both the due diligence and surveillance functions highlighted below, are able to generate consolidated reports that present both sets of data to you combined on the same report. The benefit to our clients is that subsequent to purchasing the pool of loans, our clients would be able to generate reports that contain the actual servicing data combined with the desired data points from the due diligence review; resulting in the ability to compare performance assumptions at the time of the bid to the actual performance now that the loans are in inventorys, thereby, enabling our clients to fine tune their assumptions going forward for future purchases.

RMG prides itself in its ability to combine intellectual capital with state of the art technology to bring seamless solutions and support to our clients and welcomes the opportunity to meet and exceed your expectations. Please contact Dave Arnold, Director, at either 949.218.9411 or at darnold@rmgglobal.com