"Let LoanCare help you manage your servicing rights portfolio, one of the most important assets your company possesses."
If you have an existing loan portfolio serviced in-house either for yourselves or investors consider outsourcing the servicing to LoanCare. The following are the main benefits of engaging LoanCare subservicing for this purpose:
1. Lower Cost - LoanCare has capacity and can pass on cost benefits that come with economies of scale.
2. Transfer of Risk - many of the operational and compliance risks associated with loan servicing can be transferred to LoanCare. No longer will you need to worry about timely payment of real estate taxes or insurance premium payments. We will make all the ARM changes and will timely manage all default management events, filing of lien satisfaction documents and year end reporting. We will comply with all applicable federal, state and local laws regulating servicing, particularly RESPA, Gramm/Leach/Bliley, the Homeowners Protection Act, IRS requirements, Patriot Act, FACT Act and more.
3. Immediate Access to Advanced Servicing Systems - you can take advantage of our state-of-the-art loan servicing platform without lead time or developmental expense. Through LoanCare, you can now expand the number of loan types you service and gain improved reporting capability. We will provide you with enhanced consumer services by offering them greater access to loan information via LoanCare's proprietary MyLoanCare, more options to make their payments (auto debit, pay-by-phone, bi-weekly program, payments in branches) and many other features.
4. Expand Your Mortgage Servicing Business Without Expanding Infrastructure - no need to acquire more space, people, hardware, software, etc., to grow your servicing retained business. You can now redeploy internal resources and reduce management focus on back office issues.
LoanCare is fully approved to service Fannie Mae, Freddie Mac, Ginnie Mae and Federal Home Loan Bank loans. We are also an approved FHA and VA servicer. LoanCare will apply a full service subservicing program for private investors with credit challenged borrowers featuring a more aggressive collection campaign to include more calls earlier in the month.