Ongoing Monitoring
Continuous portfolio surveillance, servicing oversight, and credit reviews
Servicing Model
A critical difference between the two counterparty types is who services the facility's underlying assets on a day-to-day basis.
The originator manages day-to-day servicing of the underlying assets — processing collections, managing obligor relationships, handling disputes, and enforcing payment terms. Port monitors the originator's servicing performance as part of ongoing surveillance. Backup servicing arrangements are established at structuring to ensure continuity if the originator cannot continue servicing.
Port often services the facility directly or through a third-party servicer — processing collections from obligors, managing payment enforcement, and reconciling payments through the SPV waterfall. This removes the servicing burden from the enterprise. Because Port or a third party handles servicing, there is direct visibility into collection performance and obligor behavior without relying on the enterprise's reporting alone.
Portfolio Surveillance
The credit team monitors each Market's portfolio performance on an ongoing basis, tracking actual collections against expected cash flows, monitoring aging analysis, delinquency rates, and realized losses, ensuring portfolio composition remains within defined concentration limits, and verifying that the counterparty satisfies all ongoing covenant conditions.
Reporting Cadence
Counterparties are required to submit regular portfolio or trade flow reports. Reporting frequency is defined in the facility agreement and is typically weekly for short-tenor assets (30–60 day receivables), monthly for longer-tenor assets (90–180 day loans), and ad hoc upon the occurrence of material events such as covenant breaches, significant defaults, or operational incidents.
Wherever possible, Port integrates via API to automate portfolio and facility performance data ingestion.
Credit Review
Periodic credit reviews reassess each Market's risk profile based on actual performance data. Credit reviews may result in facility adjustments (modifications to advance rates, concentration limits, or facility size), enhanced monitoring (increased reporting frequency or additional data requirements), placement on an internal watch list for Markets showing early signs of deterioration, or facility wind down (cessation of new drawdowns and orderly collection of existing assets).
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