As an impartial third party account servicing company, we provide both the Buyers and Sellers
with the accurate information and competent administration needed on their accounts.
OUR SERVICES
What We Offer for You
What is Account Servicing?
Account Servicing is an escrow related function whereby the servicing of a note,
agreement or contract between two or more parties is performed.
The types of agreements and contracts we generally service:
Promissory Notes*
Lease Agreements
Notes & Deeds of Trust / Mortgage Agreements for Sale
Various other types of agreements
*Promissory Notes, Agreements or Contracts may be secured or unsecured.
Terms & conditions of the Promissory Notes, Agreements or Contracts dictate how an account will be serviced.
The Sellers Advantage
Sellers find it especially advantageous to have a third party maintain records for them. This is vital if they wish to sell or pledge their note or contract as collateral, in order to obtain cash or financing. Most lenders or buyers prefer to receive information about the collateral from an impartial third party that can furnish documentation and records, if necessary.
The Buyers Advantage
Buyers benefit from using Account Servicing because, as an impartial third party, we maintain records of the date and amount of each payment, interest paid and balance due. We also require that the release document(s) must be placed with us at inception of the account. Due to our holding the release documents, the buyer is assured that the lien will be released upon payment in full of the obligation.
Specific Services
Once the initial transaction is complete, we provide the following services for the buyer and seller:
- Ensure that the original documents are safely stored
- Provide payment coupons to the buyer
- Calculate principal and interest portions of payments
- Provide detailed payee check stubs
- Send late notices when requested by seller
- Set up impound / escrow accounts to collect tax and insurance or other obligation payments
- Provide year end statements to buyer(s) and seller(s)
- Provide payment histories, status reports, pay-off statements and mortgage verification
- Provide control reports for customers with multiple account portfolios
- Provide professional account servicing representatives to answer questions about individual accounts
- Provide 24 hour daily access to your current account information via the internet
- Offer competitive rates