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REAL ESTATE loan service company

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nomadjanet

Contributor
Aug 28, 2007
301
57
26
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
 

reipro

Contributor
Sep 27, 2007
154
44
36
52
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
Aug 28, 2007
301
57
26
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

New Contributor
Aug 12, 2007
66
14
20
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.
 

nomadjanet

Contributor
Aug 28, 2007
301
57
26
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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