Mortgage Loan Servicing
Our mortgage loan servicing service helps lenders take care of a range of process requirements in a time and cost effective way
Expert Mortgage Assistance has over 10 years of experience in providing robust back office support services for mortgage loan servicing. We bring a great mix of an expert loan servicing team and advanced technology to help you provide high standards of customer service. Our services encompass all aspects of the mortgage loan servicing process and is fine-tuned to deliver quality services at cost-effective price. As a global mortgage loan servicing company, our end-to-end services has helped drive efficiency into the processes of several lenders and credit unions.
Our loan servicing services is designed to facilitate collection of interest, principal, and escrow payments from a borrower. We also specialize in loan boarding, tax administration, managing accounts receivables etc. for lenders. Our clients prefer to outsource mortgage loan servicing to us because we excel in helping them sustain increased cash flows and give them better control over the administration of loans.
Our Comprehensive Mortgage Loan Servicing Services
Loan Boarding
We possess in-depth knowledge of transferring the portfolio of a loan from one management system to another. Our experience encompasses boarding portfolios of all sizes. From routine boarding of additional contracts on a daily, weekly or monthly basis to data integrity checks and exception reporting; and from verification of collaterals to customer education, we perform a range of loan boarding services with great expertise and professionalism.
Customer Research and Resolution
We leverage modern-day CRM and ERP systems to maintain accurate records of both existing and prospective customers. Maintaining such detailed records enables you to keep track of customer payment history, outstanding amounts, as well as customers who have showed interest in mortgages before backing out. Our back office support with the management of customer portfolios enables you to identify risks with customer payment. It also helps you manage and address customer queries more effectively.
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Escrow Account Management
Our expert assistance with mortgage loan servicing enables you to keep a track of borrower escrow accounts in detail. From working with the loan originator to assist them in preparing Loan Estimate (LE) disclosure to the borrower according to guidelines to submitting certified copies of escrow instructions and amendments to lender; from receiving, identifying, and for arranging for borrower’s appointment to sign loan documents at a time convenient for borrower with escrow holder to ensuring title insurance requirements have been satisfied after the close of escrow. We produce periodic reports and statements to give you an idea of the level of surplus or shortage in a customer escrow account.
Tax Administration
We receive, manage and summarize customer payments in a systematic manner. With our tax administration model you can report tax items related to customer income. We assist you with making vital documents like form 1098 available online to the customer. We generate reports that itemize tax calculations and maintain them for customer reference and for audit by your finance department.
Cash Operations
As a premium mortgage loan servicing company we provide you with robust back office support in the management of your cash flow and accounts receivables slab. Our meticulous level of service, will help you maintain accurate records of the outstanding amounts that you are supposed to receive in the form of customer loan repayments. We leverage CRM systems to handle accounting and financial data management in order to bring optimum efficiency in the management of your cash flows.
Pay-off Quotes
Lenders are required to provide customers with details of the outstanding pay off amount on demand. We keep a track of the outstanding amount and provide accurate statements to a borrower when requested. We provide customers with a consolidated list of all the expenses that have accrued such as fees for the maintenance of an escrow account. When generating important financial reports such as pay off quotes we use a multi-tier verification process that assures high levels of accuracy in all the information included in it.
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Why Outsource Mortgage Loan Servicing to Expert Mortgage Assistance?
We have wide experience in helping lenders collect principal, interest and escrow payments from their portfolio of borrowers in a highly efficient manner and with complete accountability. We bank on technology and well-established procedures to handle the complexities of mortgage loan servicing. We assume the responsibility of maintaining your accounts receivables by keeping track of the principal amount and the interest paid on a mortgage loan. With a modernized approach to handling your loan servicing needs, you empower your business with industry standard best practices and modern day ERP technology to promote excellence in your mortgage loan servicing process.
The following are some of the benefits that you get by employing our services as a Mortgage Loan Servicing company:
- Access to a team of 1000+ mortgage experts well versed with loan servicing best practices
- Over 10+ years of experience in mortgage loan servicing
- Specialized team to focus on the quality of loan servicing
- Expert team to for looking into compliance issues
- High levels of data security and backup support
- Highly scalable operations by up to 50%
- Reduction in operations costs by up to 30%
- 24x& operations from global delivery centers
Looking for an experienced mortgage loan servicing company to assist you with your loan servicing requirements? Outsource mortgage loan servicing to Expert Mortgage Assistance to improve the efficiency of your business and achieve greater levels of customer service
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Other Mortgage Loan Servicing
Comprehensive back-office support for managing mortgage defaults, minimizing losses from delinquent homebuyers or potential defaults, and ensuring seamless handling of cases.
All-inclusive mortgage loss mitigation support, managing documentation, borrower monitoring, plan origination, and loan re-servicing to reduce risks and maximize recoveries.
Solutions focused on foreclosure prevention and homeownership preservation, including assistance with loan deferrals, modifications, and other retention strategies.
Support for loss mitigation options like mortgage release or short sale when property retention isn't feasible ensures a smooth transition and reduces lender losses.
To maintain market worth, ensure foreclosed properties retain value through REO services, including maintenance, degradation prevention, and addressing property violations.
Streamline transitions from delinquent loans to performing status by supporting repayment programs, tracking payments, and maintaining accurate loan servicing records.
Reliable support for payment statements, collections, balance sheet maintenance, tax collections, insurance management, and escrow fund handling for efficient loan servicing.
Additional Outsource Mortgage Servicing
Expert underwriters deliver precise solutions to reduce margin compression, ensuring efficient and accurate loan processing for lenders.
Streamline mortgage closing processes with back-office support for managing critical documents, compliance checks, and settlement coordination.
Facilitate smooth post-closing operations with detailed review, audit assistance, and data validation for complete loan lifecycle management.
Support for title transfer processes, including title ordering, financial analysis, and property insurance, to ensure seamless ownership transitions.
Accurately assess market value with detailed collateral reports, creditworthiness analysis, and compliance with industry appraisal standards.
Efficient reverse mortgage support, covering loan application review, verification, and closing, handled by seasoned mortgage experts.
AI-powered software solutions tailored for specialized mortgage functions, ensuring seamless integration with existing systems for operational efficiency.
Custom digital marketing strategies for enhanced engagement and conversion, catering to the unique needs of mortgage brokers, lenders, and banks.
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FAQs on Mortgage Loan Servicing
Our mortgage loan servicing includes comprehensive management of loan portfolios, covering payment processing, escrow management, tax and insurance tracking, and default management. Leveraging advanced servicing software, we ensure accurate account maintenance, timely disbursements, and rigorous compliance with federal and state regulations. Our solutions extend across residential, commercial, and multifamily loans, providing end-to-end support from origination to payoff, focusing on efficiency and accuracy.
Pricing for mortgage loan servicing is based on portfolio size, loan types, and specific servicing requirements. We offer a transparent, customized pricing model that aligns with the level of service needed, whether it’s a standard loan administration or specialized tasks like delinquency management or investor reporting. We offer scalable pricing options for more extensive portfolios that help optimize costs without compromising service quality or regulatory compliance.
Turnaround times for outsource mortgage servicing vary based on task complexity, but standard servicing tasks such as payment processing and account updates are managed daily, ensuring up-to-date records. We adhere to scheduled timelines for specialized tasks like escrow analysis, typically monthly to annual, depending on loan requirements. Our streamlined workflows and automated systems allow us to handle both routine and urgent servicing needs efficiently, ensuring timely support for borrower and investor requirements.
Our outsource mortgage servicing complies with regulations such as the Real Estate Settlement Procedures Act (RESPA), Fair Debt Collection Practices Act (FDCPA), and the Truth in Lending Act (TILA). Additionally, we adhere to Fannie Mae, Freddie Mac, and the CFPB guidelines, ensuring that all servicing processes meet federal and state regulatory standards. By maintaining rigorous compliance, we help mitigate risk and enhance the integrity of loan servicing operations.
Yes, we are equipped to manage large-scale mortgage loan portfolios with high volumes and diverse loan types. Utilizing robust servicing platforms and scalable workflows, we maintain accurate account management, efficient payment processing, and detailed reporting, regardless of portfolio size. Our experienced team ensures adherence to regulatory standards and timely completion of servicing tasks, supporting both lender and investor objectives for portfolios of any scale.
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