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Transaction Surveillance
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Transaction Surveillance

Parties to a securitized transaction that have any level of exposure would benefit from Bladestone's surveillance product. This service is normally priced into the transaction waterfall and benefits multiple institutions (i.e. investors, trustees, servicers, rating agencies, guaranty companies and MI providers).

The purpose of the surveillance is to eliminate manageable risk by setting up a single tier process that addresses the needs of all parties with different thresholds of exposure. The focus of the surveillance is on the following areas:

  1. Transaction Oversight - Monitors deal triggers, reserve levels and cashflow allocation to assure accurate investor reporting and timely remittance. Bladestone independently monitors the master servicer and pool administrator/trustee for consistency to the transaction covenants.

  2. Collateral Tracking - Actively monitors a servicer's loss mitigation and claim processing methods on a specific pool of assets. Bladestone works in conjunction with the servicer to report detailed delinquency status, collection efforts and to project losses when applicable.

  3. Rep and Warranty Compliance - Bladestone compares loan characteristics and claim processing procedures to pooling and servicing agreement requirements at the onset of default and prior to extensive loss mitigation efforts. Upon discovery of a breach, Bladestone actively pursues claims on behalf of third parties.


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