IIA
IIA-CFSA · Question #278
A special servicer is the servicer who assumes servicing responsibilities when a loan goes into default and conducts the work-out "or foreclosure process. There are various scenarios typical for…
The correct answer is C. Those appointed solely because of risk-management expertise. See the full explanation below for the reasoning.
Question
A special servicer is the servicer who assumes servicing responsibilities when a loan goes into default and conducts the work-out “or foreclosure process. There are various scenarios typical for determining special servicers; as mentioned below, EXCEPT:
Options
- AThose seller/issuers retaining the first-loss piece
- BThose investing in "B" pieces in return for special services rights.
- CThose appointed solely because of risk-management expertise.
- DNone of these
How the community answered
(65 responses)- A3% (2)
- B6% (4)
- C78% (51)
- D12% (8)
Community Discussion
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