If a Loan Originator does not comply with its obligations, Monestro may take certain action on behalf of the investors at its discretion. These actions may include, among other, enforcing the security (if any) provided to secure the Loan Originator’s obligations, assigning the investors’ claims to a third party (possibly for a fee which is lower than the nominal amount of the claim), entering into settlements and purchasing the claims from the investors using the reserve (if any). However, Monestro is not obliged to take any action. We will inform you of the action we are planning to take or if we do not deem it necessary or worthwhile to take any action.
What happens if a Loan Originator cannot complete its Buyback Obligation or other commitments ?
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