Mortgage Servicing/Loan Administration Policies and Procedures Manual
The loan servicing module focuses on the needs of the new loan servicer, or the banker transitioning into correspondent or servicing retained lending. It provides the basic procedures for all areas of loan servicing, including Loan Administration, Loss Mitigation and Secondary Marketing/Risk Management.
While all of our templates are designed to be used "out of the box", the Servicing Module requires detailed customization in the areas of payment processing, account reconciliation and investor reporting. Our experience shows that companies manage servicing using a multitude of different software packages. The servicing process is very closely managed by the software. Because of this it is impossible for us to design a ubiquitous template in these areas. We provide two solutions:
1.) We can complete the customization for you using our customization process
2.) We provide a customization guide and placeholders to allow you to easily incorporate the procedures from your servicing software user guide.
While all of our templates are designed to be used "out of the box", the Servicing Module requires detailed customization in the areas of payment processing, account reconciliation and investor reporting. Our experience shows that companies manage servicing using a multitude of different software packages. The servicing process is very closely managed by the software. Because of this it is impossible for us to design a ubiquitous template in these areas. We provide two solutions:
1.) We can complete the customization for you using our customization process
2.) We provide a customization guide and placeholders to allow you to easily incorporate the procedures from your servicing software user guide.
FNMA Guidance for entering servicing
Fannie Mae is often the first choice for lenders who desire to add servicing to their businesses. Even lenders who do NOT intend to service, must have servicing policies and procedures in place.
FNMA's recommendations and advice
Servicing Management Online has a list of sub-servicers
FNMA's recommendations and advice
Servicing Management Online has a list of sub-servicers
Servicing Elements
- Loan Set Up
- Payment Processing
- Quality Control
- Credit Reporting
- Late Payment/Foreclosure Processing
- Loss Mitigation
- Secondary Loss Mitigation
- Loan Modifications
- Partial Release
- Escrow/Impound Management - Account Reconcilation
- ARM Auditing/Loan Payment
- Investor Reporting Template
| Servicing Module Table of Contents and Sample |
| Secondary Marketing Loss Mitigation |
Purchase Mortgage Servicing Policy and Procedure Manual Download
$695.00
Download delivers immediately vie e-mail link - allow 5-15 minutes for processing
Manual includes all functions within mortgage servicing process from account boarding , escrow management, loss mitigation and customer service. Excludes investor specific remittance and reconciliation (FNMA LASER included as placeholder) and excluding payment processing software integration (FIS placeholders for Software Integration). Mortgage servicing manual also includes sub-servicing (which is sold as a stand-alone manual here)
Request Discount Code for Affiliate or State Association Referrals
Download delivers immediately vie e-mail link - allow 5-15 minutes for processing
Manual includes all functions within mortgage servicing process from account boarding , escrow management, loss mitigation and customer service. Excludes investor specific remittance and reconciliation (FNMA LASER included as placeholder) and excluding payment processing software integration (FIS placeholders for Software Integration). Mortgage servicing manual also includes sub-servicing (which is sold as a stand-alone manual here)
Request Discount Code for Affiliate or State Association Referrals
