CONFIDENTIAL - Survey for Performing/Sub-Performing Receivables

 

  Whether you are selling performing card receivables or chargeoffs, anticipating all the questions in the process of buyer diligence is nearly impossible.  You will ultimately be the best judge of how to characterize the pool for sale, and what pertinent facts will likely arise in the selling process.  Although many of the questions pertain to chargeoffs, the list below covers a good amount of the basic information for a general portfolio review.  Please use this as a starting point for providing information about your portfolio. 

If you are selling an asset that has a performance characteristic (including Partial Payment Arrangement files - or "PPAs"), we strongly recommend you supply a separate pay history table at the account level in a text-delimited format.  Please ask your Information Technology people for a data definition sheet if it is available.

We can assist you in this process as much as you need, so please call if you have any questions. 

 

  

 

 

No seller survey is ever so complete that you will avoid all questions.  Nevertheless, it is good to have as complete a survey as possible to help buyers understand what it is you are trying to sell.  Portfolios are complicated assets because they take on the characteristics of the underlying mix of accounts - and that mix, if it changes, can drastically affect the overall value of the pool. 

 

Complete the form below as completely as you can, but if you do not know an answer or it does not apply to your situation, simply leave it blank.  Any important details you inadvertently leave out now will likely crop up later with any serious buyer.   

 

 

NOTE:  PLEASE DO NOT SEND DATA TO US UNSOLICITED.  IF YOU WOULD LIKE TO GET DATA FOR OUR EVALUATION OR TO BROKER, PLEASE CONTACT US DIRECTLY AT 941.360.3000 AND WE WILL DETERMINE THE BEST METHOD TO OBTAIN INFORMATION.

 

 

Name/Title:

Company:

Address:

Phone:

Fax:

Email:

 

 

Is seller originator of accounts?

 

 
  What was the original credit quality of the customers of this pool?

 

 

Did seller acquire the accounts from another lender?

 

 

Who is the original issuer if not current seller?

 

 

Type of sale

 

  Credit Cards/Private Label/Retail Plates

  Student Loans

  Mortgages (indicate type)

  Utility

  Telecom (various)

  Medical

  Auto Loans/Leases

  Other 

 

 

 Offering Quality

:

  Sub-Prime Performing

  Performing

 

Other

  Servicer Released/Optional

  Pool Includes Revolving Accounts / "open-to-buy"

 

Who is Servicer

 

Why is Seller selling (general)?

 

Is it of interest to locate a partnering purchaser to continue offering lines of credit within the current program?

 

 

How much Current Balance is for sale & how many accounts?

 
  Explain the method of issuance of the debt instruments:

 
  Explain any record encoding that would explain differences in the asset types, if any. Are the accounts relatively homogenous or is this a mixed file?

 
  Is there any security interest in any of the accounts?

 
  Are you selling the entire inventory? - Explain your sale methodology.

 
 

 Are you selecting the accounts being queued for sale by any criteria such as balance, absence or existence of a last payment, state or regional location or other attribute?

 
 

Are you using credit scoring techniques in any way to select the accounts being brought to sale? Are you using any permissive data source to ascertain the credit worthiness of the affected debtors as a criterion for sale?

 
 

Explain what paper documentation exists for the accounts. If it is available, would you provide all paperwork to buyer at closing or would you utilize an availability channel for the purpose of requesting documentation such as applications, affidavits, statements and so forth on an as-need basis going forward? What charge, if any, would there be for such requests and what time limitation would you impose to the requesting of these documents?

 

 
 

Available document media:

 

  Documents are Available Digitally

 

  Applications
  Statements
  Check Copies
  Affidavits
  Files
  Other

 

Explain any limitations/costs that you anticipate, if any.

 
 

Are there any pending lawsuits against seller concerning accounts in the portfolio?  Please provide basic detail/case numbers/status of each case (if you are not prepared to answer this leave blank until later).

 

Are the accounts subject to a class-action lawsuit?

 

Have any of the obligors in this sale received a 1099?

 
 

Will Seller provide any credit enhancement guarantees to pool performance?  As-is/where-is?

 
  Seller will repurchase:

  Bankrupt if filing date prior to closing date
  Deceased if date of death prior to closing date
  Fraud
  Previously Settled
  Disputed
  Other

 
  Does your data set include an occurrence date for the first delinquency for delinquent customers?

 
    Co-obligors are reported to bureaus?

 
  Do you have an expected sale price or a minimum reserve?

 
    Check this box if you are willing to scrub accounts prior to sale date to remove bankruptcy and deceased accounts.
   
  Data - The amount, quality and quantity of data available will largely be dependent on your Servicer's platform.  PPA files will mostly resemble collection file sets with a payment history, whereas pay files will have all of the "current" characteristics of any active loan.  Please request of your IT contacts to provide a separate table of pay activity for as long as you are able to provide back in time -- 12 to 24 months is helpful.

 
    

 

 

WDX Seller Survey © 2007 WorldWide Debt Exchange, LLC.  All Rights Reserved. 

Unauthorized use prohibited.