 | Analysis and Discussion: NDB will meet with your organization to conduct a roundtable workshop for educating and preparing all employees on the various aspects of Regulation AB and on the specific criteria for Item 1122. Key personnel will be identified during this phase and both parties will move forward in a collaborative manner in preparing to conduct a more in-depth and substantive discussion regarding the organization's control environment as it pertains to Item 1122. |
| Examination of Servicing Environment: NDB will use our proprietary Regulation AB Item 1122 Readiness Assessment templates along with the servicer's internal documents and begin an in-depth analysis of Item 1122 controls. Our templates have been developed to mirror the requirements as set forth in the four primary areas of servicer criteria as outlined in the final Regulation AB pronouncement. |
| Summary of Findings: NDB will prepare and deliver a Regulation AB Item 1122 Gap Analysis report, detailing the servicing environment as it pertains to Item 1122 compliance. The Gap Analysis will serve as a blueprint and roadmap for working towards compliance by identifying and discussing three critical areas within your organization: (1) A listing of all minimum servicing criteria that should be in place for Item 1122 compliance (2) A listing of all criteria that are currently in place for the servicer and (3) a Gap of which areas (i.e., servicing criteria and related controls) that are missing or need remediation. |
