Extract to table
Pull the structured facts out of a document: parties, dates, amounts, obligations.
Extract to table / risk-retention-compliance-memo.docx
risk-retention-compliance-memo.docx
Parties
HARKNESS LLP
Quorum Insurance Holdings Corp
Quorum Premium Finance LLC
Federal Deposit Insurance Corp
Quorum Receivables Holding LLC
M. Vasquez
Fortbridge Corporate Services LLC
Ridgeline Capital Markets LLC
Dates
August 1, 2022
December 31, 2021
June 30, 2022
July 21, 2010
October 22, 2014
December 24, 2014
December 24, 2015
December 24, 2016
October 12, 2022
Amounts
$500,000,000
$15,000,000
$4.8
$1.2
$2.1
$24,250,000
$375,000,000
$75,000,000
$35,000,000
$485,000,000
Obligations
Based on our analysis, QIH, as the "sponsor" of the securitization within the meaning of the Risk Retention Rules, is required to retain at least five percent (5%) of the fair value of the ABS interests issued by QRF 2022-1
The EHRI must be the most subordinated interest in the issuing entity and must absorb losses before any other ABS interest
The retained sample must be selected using a methodology that ensures the sample is representative of the full pool in terms of material characteristics
Methodology Under the Risk Retention Rules, the fair value of the EHRI must equal at least five percent (5%) of the fair value of all ABS interests issued by the issuing entity
The sponsor must determine the fair value of the EHRI and the fair value of all ABS interests as of the closing date (or as close to the closing date as practicable) and must maintain documentation of the fair value determination in its records
Although the test is not subject to ongoing recalculation, the sponsor must maintain the required retention (i