Vulture Funds

Danske Bank with Pepper servicing and ‘legal title’.

The beneficial interest of the mortgage loans will be transferred to the Issuer while the legal title will remain with Pepper Asset Servicing (Pepper) as a servicer of the mortgage portfolio during the life of the transaction with Rockstead acting as the servicer facilitator. In DBRS’s view, Pepper has appropriate servicing capabilities to monitor and manage the performance of its mortgage book and securitised mortgage portfolios.