Servicing in Securitisation – What Happens When the Cash Stops Flowing

By now, you’ve probably come to expect a metaphor whenever we talk about structured finance – and rightly so. We can’t resist finding one. But this time, it fits rather neatly.
If a securitisation were an orchestra, the servicer would be the percussion section: steady, precise, and often overlooked. It sets the pace for everything else – collecting payments, chasing arrears, and keeping cash on the move from borrowers to investors. When that rhythm falters, the whole structure starts to feel it.