LoanCare Service Center

Background

LoanCare Servicing Center, Inc., a wholly owned subsidiary of LandAmerica Financial Group, Inc., is a Virginia corporation established in 1985 and a national subservicing leader since 1991. At the present time, we subservice loans for more than 100 companies in 50 states.

Located at 3637 Sentara Way, Virginia Beach, VA 23452, we are licensed or registered, as appropriate, in states where we service residential mortgage loans. We are licensed by the Department of Corporations under the California Residential Mortgage Lending Act, we are an Illinois Residential Mortgage Licensee, a Georgia Residential Mortgage Licensee and we are licensed by the New Hampshire Banking Department.

At any given time LoanCare is ranked approximately 6th in size among the top national subservicers according to industry trade publications.

LoanCare boasts a seasoned loan servicing team with senior managers averaging over 17 years experience in the mortgage industry. Subservicing is our core competency, it is not a sideline business or a way to fill excess capacity. LoanCare is not a lender, therefore, we do not compete with our clients for loan origination business. We do not own servicing rights which can be a distraction for other subservicers.

Our Target Market

LoanCare specializes in the needs of the financial service industry’s “middle market”. Too often small to mid-sized companies with loan servicing needs are turned away by our competitors because they do not meet certain minimum size requirements. At LoanCare, we are in business to support the servicing needs of all types and sizes of companies and we do not have minimum loan count requirements or onerous minimum monthly fees.

Advanced Systems

For residential mortgage loans, LoanCare utilizes the Fidelity Information Systems, Inc. MSP Servicing System, the most widely used such mortgage servicing system in the industry. The system is modular based and enhancements are available to support a variety of servicing needs.

LoanCare possesses an exceptional Information Technology team that has developed a number of proprietary applications linked to the Fidelity System.

Our statement of “personalized service” is a fact, not a claim, because it can be measured. We have solid references and a host of clients who will speak highly of the quality of service they receive from LoanCare. We have dozens of clients that have been with us for five years or longer.