Specialty Loan Servicing

Loan Servicing

Standard
Loan Servicing

Specialty
Loan Servicing

Mortgage Fund
Servicing

Foreclosure
Service

Loan Broker Assistance

Loan Documents

REO
Management

Eviction
Services Referral

Bankruptcy
Relief Referral

Secured
Investments

Buy Loans

Sell Loans

Borrower
Options to Avoid
Foreclosure California SB 1137

The Specialty Loan Servicing department is staffed by highly experienced collection, workout, repossession, and property sale specialists. This department is specifically designed for:

DELINQUENT LOAN POOL evaluation, due diligence, collection and servicing
TROUBLED LOAN PORTFOLIO collection and servicing

LOAN TYPES SERVICED

Residential Loans
Consumer Real Estate
Commercial Real Estate
Manufactured Housing
Land
Prime
Sub-Prime
Fixed
ARM
HELOC
MERS registered

PRE PURCHASE EVALUATION for Delinquent Loan Pools

This involves running the Loan Pool Acquisition Model from information provided by the seller. This complex model estimates return based on purchase price, or calculates purchase price based on desired return. The Loan Pool Acquisition Model was developed by FCI over 6 years and analyzes each loan through 459 data variables, 20 calculation variables, and extrapolates 47 columns of data. The fee is $10 per loan with a $500 minimum, and includes 3 runs with variable information. To see an example of the Loan Pool Acquisition Model please CLICK HERE.

DUE DILIGENCE for Delinquent Loan Pools

This normally starts after the indicative bid is won and takes 14 days. FCI's due diligence includes custom programs developed with our chosen outsource vendors for field inspections, valuations, verifications of ownership, encumbrances check and a rerun of the Loan Pool Acquisition Model with the new data. The fee is $120 exterior BPO, $140 interior BPO, $140 ownership and encumbrance report.

COLLECTION for Troubled Loan Portfolios & Delinquent Loan Pools

Collection begins as soon as we receive copies of the seller's RESPA 'goodbye' letters listing FCI as the designated servicer. This quick start will also create lead time to find and submit claims under the short warranty period for those purchasing Delinquent Loan Pools. In Collection our initial focus is on locating, contacting and understanding the borrower's situation and developing workout and modification programs to keep payments coming in. Our secondary focus is on rapid, cost effective repossession and sale of the property generating a maximum net return. This program includes:

Late Notices sent at 15 days delinquent
Collection Letters
Foreclosure Notices sent at 31 days delinquent
Borrower Inquiry calls handled
Skip Trace
Collection calls
Negotiations
Property Valuation available
Lien Verification available
Letters of Understanding
Loan Modifications
Forbearance Agreements
Short Pay negotiations
Bankruptcy Relief
Legal Issues coordination
Foreclosure Processing
Short Sale coordination
Property Preservation and Securing
Handle City Notices and Issues
REO Property Management
Evictions
REO Property Sale

Loan Servicing Features (non default)

Borrower Welcome Letters
Borrower Monthly Statement with Payment Coupon
Lender Welcome Letter
Lender Monthly Statement of all Accounts
Same Day Payment Posting
Daily Disbursement of Funds (after clearing)
Electronic deposit of Funds (ACH) into Lender's account
Insurance Monitoring
Optional Escrow/Impounds Service for Insurance and Taxes
Property Tax Monitoring
Payoff Demands
Subordination Agreements
Assignments
Disbursements and Draws
Releases and Reconveyances
IRS 1098 and 1099-INT Reporting
Paper or EDI Communication
24/7 Account Access
Downloadable Reports

Collection Fee Structure

The standard fee for collecting and servicing delinquent SFR loans under the DELINQUENT LOAN PROGRAM is $95 per month per loan. Incoming performing loans, loans brought current as a result of modification or loans that perform for one month will go to the PERFORMING LOAN PROGRAM at $30 per month per loan for one lender plus $15 per month per additional lender, billed equally. Unusual loans and very large loans are negotiable. There is a one time Loan Setup Fee of $25 per loan standard, $40 per MERS loan and $150 per Performing, Bankruptcy or Forbearance Plan loan. Optional Escrow/Impounds service on performing loans is $25 per month per loan. Servicing fees and hard costs are paid by client as incurred (no markup on hard costs), or paid from a joint Reserve Checking Account funded by the client. Hard costs primarily include payment of taxes, liens, Attorney fees, Trustee fees, and Municipal charges.

Fees Overview:

Loan Setup	Fee
Standard Loan	$25 (One Time)
MERS Loan	$40 (One Time)
Perf., BK and Forb. Plan Loan	$150 (One Time)

Service	Monthly Fee per loan	Monthly Fee for multiple Lenders
Collection for Delinquent loans	$95	-
Servicing for Performing loans	$30 min	$15 each
Collection for Unusual and very large loans	Negotiation	Negotiation
Optional Escrow/Impounds service on performing loans	$25	-

Loan Pool Analysis Graph for Delinquent Loan Pools

This living graph tracks the current and projected performance of your loan pool as we collect and service it. The Loan Pool Analysis Graph will show if the pool is expected to generate a positive or negative return, and when. Return is driven by acquisition price, market values, modification discounts, foreclosure cost, liquidation costs, and timeframes. These factors vary greatly by state, county and geographic region.

Numbers on the Loan Pool Analysis Graph reflect the total return (not annualized return) and do not include the reinvestment value of the monthly cash intake. The graph shows actual data to the current date, and projections going forward. To see an example of the Loan Pool Analysis Graph please CLICK HERE.

Geographic Area

Specialty Loan Servicing is available throughout the nation.

TO GET STARTED with this service please go to Transmittal Forms and use the appropriate Forms and Instructions.

For questions or additional information, please CLICK HERE.