Procedures provide customary methods of handling activities and are more specific than policies.
Customary Procedures refers to the Servicer's customary practices, policies, standards, and guidelines for the acquisition and collection of comparable defaulted consumer receivables that it services for itself or others as of the Closing Date (which includes backup servicing files, disaster recovery plans, and the enforcement of rights under Asset Sale Agreements), as the same may be modified by the Servicer from time to time thereafter with, i.
The procedure is essentially a methodical approach to handling activities. It is a methodical approach to managing, directing, and continuously enhancing an organization's activities. The actions are specified in a hierarchical model that includes the activities. Additionally, it lists the series of tasks that fall under the purview of the business phase. For instance: Understanding is a process. It is a process that involves developing intellectual capacity, social competencies, critical analytical skills, and self-awareness.
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