COMPONENT SERVICING

SELLER FINANCE COMPONENT SERVICING

LoanCare offers Seller Finance Component Servicing, which enables sellers to choose from a menu of services and then tailor a program to meet their individual needs.

Seller Finance Component Servicing Options:

  • Loan boarding
  • Storage of original documents
  • Optional automatic withdrawal and deposit of payments
  • Payment processing (Lockbox, ACH debits, incoming wires and MoneyGram)
  • Escrow management
  • Investor reporting
  • Reconciliations
  • Default Notification (10 day letter mailing – upon seller request)
  • Modifications, assignments, assumptions
  • Lien releases
  • IRS 1098 and 1099 preparation and reporting
  • Monthly and year-end reporting
  • 24/7 access to account information online
  • Toll free access to our customer service representatives

OTHER SELLER FINANCE SOLUTIONS

SUBSERVICING

With LoanCare’s Seller Finance Subservicing offering, loan subservicing and administrative services are given to both a seller and a buyer in real estate transactions that do not include an institutional investor.