standby servicing
Turn Up the heat
Cold, Warm, or hot?
We are often asked to quote for a hot or cold Standby Servicing role.
Our first response is to ask the client what they regard as the difference. If they are unsure we comment that we believe most people would regard
· Hot - being able to step in on 48 hours notice (or sooner) and utlilise the primary servicers system
· Cold - being able to take the information and records migrate it to a separate stand alone system within a specified period (say a month)
· Warm - being anything in between
In reality, the transition time from the primary servicer to a standby depends mainly on the nature and accessibility of the primary servicer's system.
We have several clients for whom we provide "shadow standby servicing" rather than hot or cold servicing. These primary servicers use “Capital” by Interfi Systems, our associate company's platform, to provide backup or redundancy in real or near-real time. In such cases, we have an arrangement with Interfi that gives us immediate system access upon activation.
