Bluestone has been appointed Backup Servicer for a Sydney based equipment leasing company with over 10,000 commercial leases worth in excess of $160 million.
Backup Servicing arrangements are a significant risk mitigation strategy being scrutinised by Lenders and Investors like never before, with the robustness and quality of Backup arrangements having a direct impact on pricing structures.
A lapse in active management of a receivables portfolio of even a short period of time can significantly impact pool performance and any deterioration can be extremely difficult to reverse.
To protect the Tier 1 Bank funding the pool, Bluestone customised a comprehensive Backup solution that would ensure there would be no time lost between escalating a Backup arrangement toward a rapid stabilisation of the pool. To enable us to step in with less than 24 hours notice, Bluestone has set up to:
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