Interim
Subservicing
What
is Interim Subservicing?
Many
lenders need subservicing support for an interim period, pending
the transfer of the loan and the related servicing rights to
a permanent purchaser/investor. This need is often called “Interim
Subservicing.”
LoanCare
Servicing Center specializes in Interim Subservicing. Typically,
loans held for sale are not on the books very long: 2 weeks,
a month or two months, but, before they are released to the
investor/correspondent, servicing issues invariably occur during
this period.
Our
Interim Subservicing program is designed to manage the servicing
issues that arise for the entire service release process… before
the loan is sold, while the loan is held pending sale and
after the loan is sold. LoanCare will load the loan, subservice
it for as long as it remains unsold, and when it is time,
coordinate the release to the permanent investor/correspondent.
Benefits
of “Interim Subservicing” to Client
All
the benefits of subservicing service retained loans, plus…
