BACKUP SERVICING

When it comes to backup servicing, having an experienced partner you can trust makes all the difference. Vervent has 35+ years of experience, strong relationships with key industry players, and a proven track record that your business can rely on.

A RELIABLE PARTNER BACKING YOU UP

SOC 1, 2, and 3 certified, we focus on operational excellence that mitigates risk while maintaining close relationships with rating agencies, money center banks, investment banks, and trustees to keep your business moving forward.

We also lead the industry in compliance protocols, protecting your reputation and minimizing risk. We achieve this through company-wide training efforts, advanced data security and certifications, including but not limited to FDCPA, UDAAP, PCI, FACTA, FCRA, and HIPAA.

KEY ELEMENTS OF BACKUP SERVICING

Learn the six key qualities to look for when choosing a backup servicer.

HOW DOES BACKUP SERVICING WORK?

Backup servicing provides insurance and security on your portfolio to ensure your investment remains stable in the event your primary servicer fails.

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SIX REQUIREMENTS TO SET THE STAGE
FOR A POSITIVE SECURITIZATION

First, why securitize? For marketplace lenders, securitization creates the opportunity to grow your business, make substantially more money, and become a formidable force in the marketplace lending space.

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Hot Backup

With Hot Backup Vervent is essentially servicing the portfolio behind the scenes so that they can take over as the successor at any time.
Runs parallel with the primary servicer
Duplicates primary servicer’s processes, to be able to duplicate results should the need arise
Includes nightly payment files & payment posting in our test environment
Offers daily validation & reconciliation to ensure Vervent data is an EXACT match to primary servicer
We do everything except contact the borrower