A stable, well-functioning financial market for allA stable, well-functioning financial market for allOutsourcing contracts
If a credit servicer wants to outsource its credit servicing operations to a third party, FI must be notified.
Information that FI requires
- the identity of the person who will be providing the credit services
- a report on the scope of the operations the credit servicer will outsource.
Fee
There is no fee associated with this activity.
Other information
If a firm provides credit services under an outsourcing agreement, FI may conduct investigations of the service provider as needed for its supervision; see Chapter 6, section 3 of the Purchase and Servicing of Non-Performing Credit Agreements Act (2023:714). The credit service provider must also submit the information and provide the basis needed for FI's supervision.
Last reviewed: 2024-02-06
