INTERIM SUBSERVICING

REDUCE RISK AND COSTS WHILE PROVIDING A BETTER BORROWER EXPERIENCE


LoanCare’s interim subservicing program helps relieve the ongoing headaches associated with selling loans servicing released in the secondary market. From the time the loan closes until it is service released, we will perform the following functions:

Pre-sale:

  • Send borrower welcome letters
  • Load loans into subservicing system
  • Respond to borrower calls/inquiries
  • Apply payments received
  • Determine payment destination
  • Support administration of multiple purchasers/investors

Post-sale:

  • Receive and review seller/client purchase advice
  • Coordinate loan transfer to destination purchaser/investor
  • Assist in completing agency transfer forms
  • Pay open escrow items and provide investor fund reporting, as applicable
  • Send goodbye letters
  • Facilitate escrow account fund transfers
  • Provide monthly purchase advice status reports to sellers/clients
  • Facilitate monthly payment remittances and reporting

Post-release:

  • De-convert loan from subservicing system
  • Respond to purchaser/investor calls and inquiries
  • Prepare and mail year-end 1098 forms

ADDITIONAL SUBSERVICING SOLUTIONS


FULL SUBSERVICING
BACKUP SERVICING
SPECIAL SERVICING