Operations Fulfillment

For each loan under management LoanCare’s subservicing activities involve the performance of the following administrative services:

• Borrower services
• Cashiering, collecting and processing loan payments
• Mortgage accounting for principal and interest cash flows
• Holding escrow funds for payment of taxes and insurance
• Making inspections of the mortgaged property as necessary
• Contacting delinquent mortgagors
• Providing loss mitigation work
• Supervising foreclosures in the event of unremedied defaults

LoanCare will provide for a single bulk transfer of loans for subservicing or will support the servicing needs for an ongoing flow of newly originated loans. Once LoanCare accepts or “boards” a mortgage loan, we begin subservicing the loan, seeking to ensure the loan is repaid in accordance with the terms of the loan documents and as specified in the related subservicing agreement.

LoanCare will subservice loans on an interim basis for a matter of weeks before the loan and the related servicing rights are sold to a permanent investor, or for the life of the loan where the servicing rights are retained by the client.