Residential Mortgage Services
Mortgage Services offers comprehensive support to loan servicers throughout the entire lifecycle of a loan, from onboarding to the conclusion of the loan term or foreclosure sale.
Residential Mortgage Services
Mortgage Services offers comprehensive support to loan servicers throughout the entire lifecycle of a loan, from onboarding to the conclusion of the loan term or foreclosure sale. Our top-tier servicing is categorized into three primary areas: Loan Servicing, Default Servicing, and Shared Services. Loan Servicing includes essential tasks such as new loan boarding, tax and escrow setup, loan audits, consumer solutions, investor accounting, cashiering/payoff, and lien release. Default Servicing focuses on assisting borrowers who may be struggling, covering default reporting, loss mitigation, bankruptcy management, foreclosure processing, property preservation and inspections, and claims package preparation. Finally, our Shared Services encompass account services, compliance services, exam management, workforce management, and legal review. Through these structured support streams, Mortgage Services aims to enhance the efficiency and effectiveness of loan servicing, ensuring borrowers receive the assistance they need while protecting the interests of investors.
Residential Mortgage Services
Loan Servicing
Loan Conversion – Our team of mortgage experts is highly skilled in the loan boarding process. We have extensive experience in New Loan Setup, Escrow Setup, Manual Loan File Preparation, Tax Line Setup and Verification, and Legal Extraction.
Consumer Solutions Services – We prioritize expediting processes for our clients, who submit requests through email, fax, and calls. These requests involve document retrieval, assignment verification, and validation. With extensive experience in lien releases, we collaborate with relevant teams to ensure all document verification steps are completed efficiently.
Cashiering and Pay-off – We provide back-office support for processing payments and posting funds received via electronic wire, USPS mail, and client payment systems. Our expertise includes ACH payments, payment validation, and account setup for monthly transactions.
Investor Accounting – We efficiently manage and multitask for our clients, particularly in tax and insurance reconciliation, ensuring clarity with no reconveyance items. Our services include verifying that the trial balance aligns with the general ledger and maintaining zero balances in custodial accounts. As a one-stop solution, we also offer wire log processing, research, data processing, and NSF (Non-Sufficient Funds) reversal services.
Data Integrity Audit – We provide thorough back-office support, including data integrity reviews, to ensure our clients have up-to-date information. We carefully verify borrower, property, and loan details to maintain high-quality loan servicing.
Information Services – We ensure comprehensive quality assurance and data reporting through a checklist-based approach. Our Information Services team conducts critical reviews of all reports, evaluating the entire loan portfolio to identify and fill in any missing information.
Escrow Management – We specialize in escrow support functions, saving our clients time by handling tasks like entering vital information and validating legal descriptions. We process requests from borrowers and lenders daily, redirecting them to the appropriate individuals or departments as needed. Additionally, we can perform these tasks within the lender’s system if required.
Adjustable-Rate Mortgage Audit – We specialize in auditing ARM information, ensuring accurate data uploads to the service application. Our rigorous review process empowers clients to make informed decisions.
Default Servicing
Collections – We conduct a thorough evaluation of the loan portfolio to gather missing information, focusing on data quality, regulatory compliance, and customer experience. Our collection process includes skip tracing and bad number control to verify defaulted borrowers’ contact information, as well as checking co-borrower data to update our client’s database.
Loss Mitigation – Our loss mitigation service covers the complete process from documentation to borrower outreach. We provide top-tier services tailored to our clients’ back-office needs, including ECOA controls, file assembly, income and expense calculations, quality assurance, GSE conversions, system fulfilment, underwriting decisions, and front-end closing documentation.
Property Preservation and Inspections – We provide a range of inspection services, including exterior and interior inspections, property condition reports, and customized options. Additionally, we offer scalable preservation and maintenance solutions such as structure securing, lawn care, winterization, Mold remediation, property maintenance, cost estimate validations, boarding, and removal services.
Default Reporting and Support – Our mortgage reporting services streamline critical reporting. We handle default reporting and compliance by submitting borrower default reason codes and status updates to federal agencies. We also support changes or deletions of reported codes until the borrower is current on their loan, including quality checks on notification letters sent to borrowers regarding their default status.
Foreclosure – We have built a reputation for providing quality and timely foreclosure assistance, including preparing necessary documents like foreclosure referrals and trustee assignments.
Bankruptcy – Our bankruptcy servicing process allows us to review new bankruptcy cases for 45-day delinquencies and provide current case statuses. We are skilled in updating transferred loans in Default Administration Data, as well as reviewing and updating information on the PACER cover sheet, including verifying dockets and proof of claims.
Claims – We offer comprehensive support for the entire claims filing process, from document preparation to post-filing loss analysis, in accordance with HUD and Mortgage Insurer Guidelines. Our services include preparing and uploading claim packages and related loan documents to facilitate various types of claims for our clients.
Shared Services
Mortgage Services also offers Shared Services to its clients, which encompass a range of back-office support functions customized to meet their specific needs.
Account Services – Our account servicing process involves verifying requests from Payers/Owners for account adjustments. We meticulously check details before providing any information. Once verified, we complete the request, which may include generating letters that are uploaded and sent via mail or fax. Additionally, our compliance team specializes in seller financing checks to minimize errors.
Compliance Services – Our mortgage compliance service offers a thorough solution for the mortgage industry, focusing on auditing and validating loans to ensure adherence to state regulations. For instance, we verify that all newly boarded loans in Kansas comply with the Kansas Consumer Credit Code (UCCC) regarding late charges. Additionally, we conduct OFAC document retrievals and validations to resolve any alerts flagged by the LexisNexis application for customer loans.
Exam Management – Exam management review involves gathering and compiling necessary documentation for audit requests from clients, regulators, GSEs, state agencies, and third parties. We ensure timely and accurate fulfillment of audit requirements. Additionally, we can reconcile payments and balance GNMA reports with data from the SmartTouch application and bank statements.
Work Force Management – We excel in workforce management by generating and organizing client reports for analysis, as specified by the client. Additionally, we email time-sensitive reports by business unit and notify stakeholders upon completion.
Legal Support – We thoroughly review all loan documents to ensure compliance with regulations throughout the mortgage process. This includes checking incoming client emails for information requests and using our established procedures to conduct research in designated applications, ensuring all requests meet regulatory standards.