...+ Securitisation Services SpA (SecServ) has a proven track record within the Italian securitization market in several roles, including master servicing in nonperforming loan (NPL) transactions. Despite stronger market competition, the company substantially increased its master serviced portfolio over the past two years. In addition, SecServ has a pipeline for 2018 that should guarantee further growth if it materializes as SecServ anticipates. In our view, the company is well-positioned to attract new business. + The company has a stable leadership team that has delivered consistent results in respect of its objectives. In 2017, SecServ managed to meet its full 2017-2019 business plan targets, two years in advance, due to the high level of new transactions. + The master servicing staff turnover rate slightly increased in the first half of 2017 due to a more active servicing job market leading some junior team members to depart. As a result, the operative staff tenure rate reported by the...
