SERVICES AND FEES

Standard Servicing

New Notes/Loans
Fixed Rate First or Second
Seller Carry Back Financing
Installment Sale

Included in Fee for Payment Processing

• Coupons and envelopes to the Payer
• Welcome Letter to Borrower
• Collect payments owed to you
• Payments are processed daily
• All disbursements paid out (after clearing)
• Deposit of funds into your bank account or sent wherever you direct
• (ACH) direct deposit to Lender’s account
• Provide you with monthly statements
• Keep an accurate record of every payment made and every disbursement
• Balloon payment notification
• Provide year-end financial accounting required for IRS (1098 and 1099)
• Pay all postage and telephone calls
• Late Notices
• Document Custodial Service
• “On Line” Access to your account 24/7

Impound /Escrow Servicing

Explanation of Escrow/Impound Set Up and Servicing

• When the Lender requires the borrower to pay sums in addition to principal and interest to satisfy other obligations that become due and payable after the close of the loan, an $10.00 fee is added to the one time Set Up Fee of $25.00.
• When the borrower’s payment includes amounts for the payment of Property Taxes and/or Hazard Insurance, NSC will collect and hold those proceeds in a trust account and disburse the scheduled payments to the respective authority as scheduled. The fee is $15.00 per payment per loan and will be added to the loan servicing fee.
• Impound/Escrow Set up and Servicing includes the Initial Analysis and Statement and Annual Analysis and Statement.

For Specialized Servicing Fees contact thomas@sellerloans.com  559-665-3456 ext 301 or tom@sellerloans.com
559-665-3456 ext.300

All Inclusive Trust Deeds (AITD) and Other Types of Note Servicing requiring the payment of an Underlying Mortgagee.

Explanation of All Inclusive (AITD) and Underlying Loan Servicing

When Notes are submitted for Servicing such as All-Inclusive Notes (AITD) and other loans requiring the payment of an underlying mortgage, it is necessary we have contact information, account number and proper mailing address of the Underlying Mortgage in order to make the payment. Please complete an “Underlying Payment Input Sheet” with your package along with the payment coupon you typically receive from the Underlying Mortgagee. This form can be found on our website www.sellerloans.com

Additionally, The Note Servicing Center requires one additional payment in advance to be sent with the initial set up, to hold in escrow for these types of notes. The purpose of this advance (additional) payment is to mitigate the occurrence of late fee being assessed by the Underlying Mortgagee or Beneficiary if the payment dates do not coincide. (A problem intrinsic to this type of arrangement)

Other Specialized Servicing

• Multi-Investor Loans (aka Fractionated Loans)
• Adjustable Rate Mortgage (ARM)
• Home Equity Line of Credit (HELOC)
• Lease Option Subject2

• Contract for Deed (Land Contract, Contract of Sale)

For Specialized Servicing Fees contact thomas@sellerloans.com 559-665-3456 ext 301 or tom@sellerloans.com 559-665-3456 ext 300

Custom Servicing

• Mortgage Pool and LLC Servicing
• Private Labeling Out-Sourcing (Broker Keeps Portion of Fee)
• Non-Performing Notes Loans

For proposal, contact Tom Standen 559-665-3456 ext 300 or tom@sellerloans.com

Status Definitions

• New Loans: Any loan that has just been closed. The originating Broker/Lender may have funded the Investor at closing or may have funded the loan himself and will sell or assign the loan later. The Broker may have a Note Rate and a Sold Rate. For example the note may have a note rate of 14%, but is being sold to the investor for 12%, with the broker keeping 2%. The sold rate is 12% as additional monthly compensation. The Broker/Company will continue to monitor the loan through NSC, and provide guidance to the Investor.
• Performing Loans: A loan that is current, one or two months delinquent. Modified loans and loans that is making payments but are behind in payments.      
• Non Performing Loans: A loan that is three months or more delinquent. The status for each loan should be disclosed when loan information is being transmitted to authorized party.      
• Loan Pools: – LLC’s: A group of loans that may be performing, non performing or mixed.  

Types Of Notes Loans We Service

• Residential
• Land
• Commercial Real Estate
• Mobile Home on Land
• Mobile Home Notes
• Seller Financing
• Intra-Family Loans
• Pension Fund for IRA Investors

Call for Schedule of Fees

SIGNING UP FOR SERVICING IS EASY:

SIMPLY GO TO SIGN UP AND FORMS AND FILL OUT THE SIGN UP FORM. YOU WILL IMMEDIATELY BE DIRECTED TO YOUR STARTING PACKAGE OF FORMS  AND DOCUMENTS. YOUR LOAN WILL BE SET UP IN 24 HOURS (ONCE WE RECEIVE COMPLETED PACKAGE).

REQUEST INFORMATION

Prospective Clients: You are welcome to submit your request for additional information of questions about the Note Servicing Center by completing the form below. Or you are welcome to call us at 559-665-3456 Ext. 302. Brokers or Lenders Call 559-665-3456 Ext. 300 or 301. Or click here to send us your comments and request.

YOU BUILD YOUR BUSINESS — WE SAVE YOU TIME AND MONEY

WE SERVICE NATIONWIDE