Press Releases • April, 2023
RMS 32 Servicing & Legal Title Transferred
RMS32 SERVICING & LEGAL TITLE TRANSFER
20 February 2023: As of Monday 20th February, legal title and servicing for all loans currently held in the RMS32 securitisation vehicle has transferred from Kensington Mortgages to Mars Capital Finance Limited, who has been appointed as replacement Legal Title Holder and Mortgage Administrator. For more details on this news, please refer to the attached public RNS. Kensington decided to terminate both contracts following some strategic changes to its business.
A formal notice has been sent to all mortgage customers of RMS32 to notify them on this transfer, in adherence with TCF regulatory requirements (see RNS below).
The replacement of the Legal Title Holder and Mortgage Administrator is in line with the RMS32 offering circular; Administration, Servicing and Cash Management of the Mortgage Pool section, pages 184 & 186; also in line with the transaction documentation, there will not be any changes to the terms and conditions of any RMS32 loans transferred to Mars Capital.
Going forward, if you have any questions in relation to the servicing and administration of this portfolio, please contact Citi as the Cash Bond Administrator or Mars Capital as Servicer and Legal Title Holder at email@example.com