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loan service company

nomadjanet

Contributor
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17%
Aug 28, 2007
301
50
TX
I am holding lots of seller finance papers & I am looking for a loan service company to outsource my paper work to does anyone have a recommendation?
Janet
 
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reipro

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Sep 27, 2007
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54
Lincoln, NE
you can try MERS most of the time they only take on large portfolios. You can also try your local banks. Some of the smaller commerical banks in your area maybe interested in servicing the loans
 

nomadjanet

Contributor
User Power
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17%
Aug 28, 2007
301
50
TX
Thanks, I don't know if I meet their standards. Anyone else have any input? I am trying to outsource my life :)
Janet
 

Adam

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Aug 12, 2007
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14
Minneapolis
What do you consider "lots"? "Lots" to you & I is probably pennies to a servicing company. I wouldn't think that the larger loan servicers would be able to take on your loans without charging an arm and a leg.

My suggestion would be to contact a few of the correspondent lenders in your area. They typically sell their loans within 5-45 days of closing, so they typically have a small post-closing and servicing dept (1-5 people). I imagine that you could convince one of the correspondent lenders service your paper for the right price.
 
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nomadjanet

Contributor
User Power
Value/Post Ratio
17%
Aug 28, 2007
301
50
TX
Thank you. Of course you are correct lots to me is not massive. I am just trying to outsource as much as possible and this is one of the things I have been looking for a solution to I appreciate your answer and I will certainly start looking at that possibility.
Janet
 

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