Component Servicing

Subservicing needs are not a one-size-fits-all. We offer the unique flexibility for clients to select specific workflow services.

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Pay for what you need.

In addition to full subservicing, we can unbundle our solutions so clients may select and pay for the specific capabilities they need. Information about several of these standalone services is detailed below, we also have front-end capabilities in cashiering, payment processing, escrow administration, member services and investor reporting.

Collections

Our collection efforts focus on educating borrowers on proper debt management. We aim to to maximize the likelihood of continued timely payment.

We establish clear expectations with borrowers and work with them to identify and resolve any financial concerns that may occur. LoanCare can perform the following collection efforts on behalf of the client:

  • Determine reason for default
  • Present repayment plans
  • Conduct skip tracing
  • Coordinate property visits and post-payment reminders
  • Solicit for loss mitigation solution

Bankruptcy Monitoring

This service monitors client portfolios for bankruptcy filings and the progression of a borrower’s bankruptcy proceedings after initiation.

Available Services

  • Scrub portfolio daily to identify new filings, discharges, dismissals and death notices
  • Notify client of new filing, proof of claim filing, account monitoring, payment application and motion for relief monitoring
  • File motion of relief at the 60th day of default of plan
  • Perform loss mitigation solicitation, working directly with debtor counsel to facilitate loan modification or deed-in-lieu of foreclosure

Foreclosure Services

Our primary goal is to encourage defaulting borrowers to make all payments when due. However, when no satisfactory arrangements can be made for delinquent payments, we will provide foreclosure services on a component basis.

Available Services

  • Order inspections as prescribed by Agency Guides

  • Pursue foreclosure when no satisfactory collection arrangements can be made
  • Determine eligibility for foreclosure referral
  • Set up foreclosure, first legal monitoring, timeline management, document management, bid and valuations services

Loss Mitigation

LoanCare initiates early contact with homeowners who are in dire financial trouble to discuss alternatives to foreclosure.

The following services are offered in combination or a la carte:

  • Outbound Calling Campaigns
  • Inbound Call Management
  • Hardship Package Management
  • Workout Decision Follow Up
  • Quality Control Review
  • Second Looks
  • Mass Mods
  • Short Sales

Mortgage Insurance (MI) Claims

LoanCare offers MI claims support on behalf of the client.

Available Services

  • Prepare and present claims to qualified insurer under any MI policy
  • Perform title search, asset management and disposition of REO property
  • Manage, conserve, protect and operate each REO property for the purpose of maximizing the net present value of proceeds recoverable

Post Foreclosure

Work with us to streamline the post-foreclosure process.

Available Services

  • Monitor and review property inspection results, vacant property remediation and prepare for conveyance
  • Review all vendor invoices to validate appropriate expenditures, allowable limits and statutory compliance
  • REO management including market analysis, listing recommendations and repair analysis
Build a Servicing Solution for Your Needs

Discover how we can drive value for your portfolio while providing superior service.

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Credentials

In addition to holding licenses in each state requiring one, LoanCare is an approved servicer for the U.S. mortgage industry.

Moody's
S&P Global
Fitch Ratings
Tier 1
Moody's
Above Average