Home Our Services Standby Servicing

Standby Servicing

PROTECT THE VALUE OF YOUR ASSETS

Spartan currently provides Standby Servicing to more than 35 facilities with portfolios totalling over $800 million. Our capabilities include:

Hot

Run Partial or Full Parallel Systems

  • Weekly and Monthly Data File Updates
  • Portfolio Monitoring
  • Transition Planning
  • Resource Allocation
  • Confirmation to Funders’ Monthly

Warm

Review Monthly Servicer Reports, Perform Portfolio Analysis and Store Data Files

  • Monthly Data File Storage
  • Portfolio Monitoring and Review
  • Transition Planning
  • Quarterly Data uploads into SPARTAN
  • Confirmation to Funders’ Monthly / Quarterly

Cold

Servicing Option with Minimal Monitoring and Transition Preparation

  • Semi-Annual or Annual Data File Storage
  • Periodic Portfolio Monitoring and Review
  • Reservation of Space on Servicing Systems

Replacement Servicer Responsibilities

During the Assumption Period and until the final date, Spartan Services, on behalf of the Funder, will:

  • Ensure Collections are paid into designated account within time frame prescribed
  • Remit any and all Sales Tax
  • Permit Funder or its agents conduct audits
  • Maintain copies of all records in secure premises
  • Notify Funder in writing changes in contract with an Obligor which may have material adverse effect
  • Maintain insurance
  • Make from time to time filings and registrations in all applicable jurisdictions
  • Deliver to Funder Portfolio Reports, notices and listings as required by agreement
  • Make all reasonable efforts to sell returned / repossessed vehicles

Our Services

Find out what Spartan Services can do for you today.

CONNECT WITH US ON LINKEDIN