Outsourcing 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: 2025-01-02