About Us
Borrower Payment Options
Customer Login
Start Loan Servicing
Start Foreclosure
Transmittal Forms
Strategic Partners & Associations
Contact Us
 HomeSpecialty Loan Servicing     March 22, 2018  
Loan Servicing
Standard Loan Servicing
Specialty Loan Servicing
Mortgage Fund Servicing
Foreclosure Service
General Fee Schedule
Reo Management
Bankruptcy Relief Referral
Secured Investments
Buy/Sell Loans
Borrower Contact & Options to Avoid Foreclosure

Start Servicing

Residential Loans
Commercial Loans
Consumer Loans
Manufactured Housing
Sub Prime

Note:  FCI will not service Negative Amortization (Neg Am) Loans, Daily Simple Interest Loans (interest accrual method from date received to date received).  This with the exception of:  Lender agrees to let FCI service the Loan as a regular or partially amortized Loan or as an interest only Loan with no negative amortization.

On the Specialty Loan Servicing Full Collection Program FCI is the Servicer acting at the direction of its Lender Clients (Owner of the Notes) to address Delinquent Loans by facilitating the restructure of loans per Lender directions, presenting Lender offered FPA's (Foreclosure Prevention Alternatives), or by coordinating Lender's foreclosure of the Loan if workouts are not possible so the Lender can get back and sell the properties. It is staffed by experts at skip trace, collection, Foreclose Prevention Alternative workouts, and foreclosures.  

The Full Collection Servicing program can also be used for High Touch Performing Loan Servicing.

*A complete Loan Servicing Setup Package must be received to start servicing.

*The Setup Fee is due at the time of Setup, with all documents/information, and is non-refundable.

*Missing documents/information requested by FCI must be provided within 30 days from initial Boarding or the Loan will be Deboarded.

*Loans can be prelim Boarded with copies of UNRECORDED documents, but copies of required RECORDED documents (Deed, Mortgage, Assignments, etc.) must be provided within 60 days.


(All Programs)
LOAN SETUP for Fixed Rate, Single Lender, non escrow/impound $55 per Loan for 1 - 9 Loans
$30 per Loan for 10+ Loans submitted at one time
LOAN SETUP for more than one Lender Add $10 per Lender
LOAN SETUP for ARM/HELOC - Performing Add $5 per Loan
LOAN SETUP for ARM/HELOC -  Delinquent Add $15 per Loan
LOAN SETUP for Loans with Escrow/Impounds Add $15 per Loan
LOAN SETUP with  Default Rate set in activation mode Add $15 per Loan
LOAN SETUP for Active Bankruptcy, Forbearance Plan, Complex Loans & Complex Loan Modifications $150 per Loan
LOAN SETUP for Partial Note Sale (Hypothecation) $75 per Loan

NOTE:  For a Transfer of Servicing, after your Setup Contact receives the Setup Form (Transmittal Form 2) along with the requested items, there will be a minimum 15 day interim (wait) period once the Goodbye Letter has been approved.  There is no activity and no new information your setup contact can give you during this time. The Lender will receive a Boarding Notice Email when the Loan is boarded.

(For Delinquent Loans & High Touch Performing Loans)
(Loans up to $1M)
$95 per Loan/Month
(Loans over $1M)
Add $20 per $M or portion thereof
(Loans up to $400K)
$35 Loan/Month for one Lender + $15 per additional Lender
(Loans $400K up to $1M)
Add $10 per $100K or portion thereof, ($95 at $1M), or $35 for the 1st Lender + $15 per additional Lender (if greater)
(Loans over $1M)
$95 at $1M plus $20 per $M (or portion thereof), or $35 for the 1st Lender + $15 per additional Lender (if greater)
ARM LOANS Add $5 per Loan/Month
HELOC LOANS Add $5 per Loan/Month
ESCROW/IMPOUND service included Add $15 per Loan/month for 1-2 entities (taxes & insurance)
Add $2.50 per Loan/Month per entity over 2 entities (city, county taxes)
LOAN RESET for Data Entry $55.00 per Loan for 1 - 9 Loans
$30 per Loan for 10+ Loans submitted at one time

HIGH TOUCH PERFORMING Loans that miss the 3rd Payment and become DELINQUENT will move to FULL COLLECTION


Optional ESCROW/IMPOUNDS service: When the borrower’s monthly payment on a performing first position Loan includes amounts for the payment of Property Taxes, Hazard Insurance, or other entities, FCI 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 per Loan per month for 1 or 2 entities and will be added to the monthly Loan Servicing Fee and prorated to the respective Lenders.

Taxes and Insurance Notice:  On loans where the Borrower's monthly payment does not include Escrow/Impounds for Property Taxes and Hazard Insurance, it is standard in the industry for the Broker or Investor/Lender to file a Loss Payee Notice with the insurance company listing the Investor/Lender at their address, and sometimes the Broker, for notice.  DO NOT LIST FCI OR USE FCI'S ADDRESS ON LOSS PAYEE NOTICES.  If FCI does receive such notices or information, FCI may forward, but is not required to forward, such notifications. The Broker or Investor/Lender can check for payment of taxes once a year or use a Tax Service, and (if applicable) file a Request for Notice of foreclosure with any senior lien holders.  FCI offers Insurance Tracking as an option within its servicing and access to deeply discounted force placed Hazard Insurance.

COVERED LOAN (Dodd Frank) Regulatory Compliance Action Fee:  PERFORMING LOANS (Senior or Junior position) secured by a Consumer/Borrower Primary Residence (Owner Occupied) that become 25 days delinquent are subject to an additional $20 monthly charge for 2 months to fulfill mandated servicing requirements. 

COVERED LOAN (Dodd Frank) in BANKRUPTCY:  All Covered Loans (Loans secured by a Consumer/Borrower Primary Residence) with active Bankruptcy cases (Chapter 7, 11, 12, 13) must be on the Full Collection Servicing Program ($95 base/month) so FCI as Servicer can create/send required statements compliant with CFPB and Bankruptcy Court rules.

Loans with active Bankruptcy cases may be on alternative Servicing Programs in the following circumstances only: (1) HELOC Loans, (2) Business Purpose Loans, (3) Debtor indicates intent to surrender property in Bankruptcy filings, (4) Debtor indicates intent to lien strip the property and/or Bankruptcy Court has ordered the lien stripped for purposes of the Bankruptcy, or (5) the automatic stay does not apply to the property.

COVERED LOAN (Dodd Frank) FORECLOSURE PREVENTION ALTERNATIVES (FPAs) Servicer Response Fee to Borrower/Consumer written loss mitigation applications:  If the Lender on a Covered Loan DOES NOT OFFER FPAs, there is a $45 fee for FCI to produce and mail a combined acknowledgement/response letter informing the consumer no FPAs are offered by their Lender.  If the Lender on a Covered Loan OFFERS FPAs, there is a $150 fee for the Servicer required response to written Borrower/Consumer loss mitigation applications.  FCI will produce and mail all correspondence required to respond to the written Borrower/Consumer loss mitigation application.  This process requires up to 10 written communications, compliance timeline tracking, and immediate Servicing File progress notation.

NOTE:  The Servicer is accountable for all aspects of Loan servicing compliance, including loss mitigation compliance, and will not agree to Lender requests to answer written loss mitigation applications themselves.  On verbal loss mitigation discussions between Consumers and their Lenders, without written Consumer loss mitigation applications received by FCI or the Lender, the Regulation X §1024.41 process is not required.  The Lender must keep FCI informed of all communication content and outcomes.  Lenders on Specialty Servicing Full Collection program are not subject to these Covered Loan response fees.

Notice for Delinquent Loans:  It is standard in the industry for the Investor/Lender to go to a forced placed Hazard Insurance provider, check Property Taxes through public records or use a Tax Service, and (if applicable) file a Request for Notice of foreclosure with any senior lien holders.  FCI offers Insurance Tracking as an option within its servicing and access to deeply discounted force placed Hazard Insurance.

Notice for Performing Loans:  When the Borrower's monthly payment does not include Escrow/Impounds for Property Taxes and Hazard Insurance, it is standard in the industry for the Investor/Lender to file a Loss Payee Notice with the insurance company, check for payment of taxes once a year through public records or use a Tax Service, and (if applicable) file a Request for Notice of foreclosure with any senior lien holders.

Compliance Notice:  Every Servicer and Loss Mitigation company must have Federal and State Licenses/Registrations in their company name at their specific address.  For your protection, check this at www.nmlsconsumeraccess.org; enter the company name to get the Federal ID, then click on the company name to get the State IDs.

Payoff and Reconveyance Notice:  Regulations require the Servicer to maintain complete and current records of all loan servicing activities. As the entity that accepts Payoff Funds, FCI is responsible for ensuring the Reconveyance is recorded according to Regulatory timelines and requirements.  FCI must perform all activities involved in processing Reconveyances including recording of all related documents such as release of Assignment of Rents, and Deed of Trust.  Fees are charged according to State Code, $65 minimum (Borrower portion per State maximum), plus recording costs.

Collection / Servicing begins as soon as we receive a complete Setup Package including copies of the seller’s RESPA ‘goodbye’ letters transferring servicing to FCI, and copies of the Assignments designating the new Lender/Investor. This quick start will also create lead time for the Lender/Investor to find and submit claims under the short warranty period for those purchased Loans.  In Collection our initial focus is on locating, contacting and understanding the borrower’s situation and developing workout and modification programs at the Lender's direction to keep payments coming in. If workouts are not possible, our secondary focus is on cost effective and compliant coordination of the Lender's foreclosure action. 

  • NOTE: FCI coordinates all foreclosures on loans in our servicing to assure compliant processing, and the Lender/Investor can never start a foreclosure directly.


. 1st Late Notice sent 11 days after boarding  . Facilitate Short Pay negotiations at direction of Lender 
. 2nd Late Notice sent 21 days after boarding . Coordinate Bankruptcy Relief 
. 3rd Late Notice sent 31 days after boarding  . Legal Issues coordination 
. Borrower Inquiry calls handled  . Foreclosure Processing and Coordination
. Skip Trace  . Short Sale coordination 
. Negotiations  . Assist with Municipal Notices and Issues
. Lien Verification available  . Coordinate Evictions
. Facilitate Forbearance Agreements at direction of Lender    


.  Borrower Welcome Letters
.  Borrower Monthly Statement with Payment Coupon
.  Lender Boarding Notice Email 
.  Lender Monthly Statement of Account
.  Same Day Payment Posting
.  Daily Disbursement of Funds (after clearing)
.  Electronic deposit of Funds (ACH) into Lender’s account
.  Optional Escrow/Impounds Service for Insurance and Taxes
.  Late Notices sent at 11, 21 and 31 days delinquent 

.  Outgoing Collection Calls after each Late Notice
.  Outgoing Collection Call at 41 days delinquent 
.  Free Hazard Insurance Tracking 
.  Disbursements and Draws
.  Releases and Reconveyances
.  IRS 1098 and 1099-INT Reporting
.  Paper or EDI Communication
.  24/7 Account Access
.  Downloadable Reports  

The base fee for collecting and servicing delinquent Loans under the DELINQUENT LOAN PROGRAM is $95 per month per Loan up to $1M.  For Loans over $1M add $20 per million or portion thereof.  FCI does not charge a so called "Incentive Bonus" like most Specialty Servicers because Clients have a Live Customer Login to view servicing/collection activity.

Incoming performing Loans and Loans brought current as a result of modification, will go to the High Touch PERFORMING LOAN PROGRAM at $35 per month per Loan for one Lender plus $15 per month per additional Lender, billed equally, for Loans up to $400K.  Loans over $400K through $1M add $10 per $100K or portion thereof, ($1M equals $95 per month). Loans over $1M add $20 per million or portion thereof, or $15 per month per Lender, whichever is greater. Add $5 per month for HELOC or Variable Loans.  FCI is entitled to 50% of the paid Late Charges (or Default Rate only if it replaces the Late Fee) on Loans to $500K, 25% on Loans $500K to $2M, 15% on Loan over $2M.

There is a one time Loan Setup Fee per the above Fee Schedule due at Setup.  Active Bankruptcy Loans are serviced and charged as two Loans: a pre-petition Loan and a post petition Loan. Data entry fee to reset any Loan terms, including Disbursements and Assignments of new Lenders is $55 per instance, reduced to $30 per Loan if 10 or more Loans are reset at one time.  Transfer of servicing from FCI to another entity (excluding payoffs) is $90 per Loan. Servicing fees and hard costs are paid by client as incurred. Hard costs primarily include payment of taxes, liens, Attorney fees, Trustee fees, and Municipal charges.


Newly Originated Loan: A Loan of any type that has just been made and just closed. The originating Broker/Company may have funded the Investor in at the closing, or the Broker/Company may have funded the loan themselves and will assign (or sell) the note to an Investor later.

Spread:  On a Newly Originated Loan the originating Broker/Company may have a Note Rate and a Sold Rate. For example the note was originated at a Note Rate of 12% and is being sold to the Investor/Lender at a Sold Rate of 11% with the Broker/Company keeping 1% as additional monthly compensation (known as a Spread). The Broker/Company will typically continue to monitor the loan and provide guidance to the Investor/Lender.

Performing Loan:  FCI Servicing Program definition is any Loan that is current, one or two months delinquent, according to its original or modified terms.  Loan Servicing Tracking definition is any Loan that is paid before the passing of the grace period.

Delinquent Loan:  FCI Servicing Program definition is any Loan that has missed the 3rd payment, or more. The known situation for each Loan needs to be disclosed.  Loan Servicing Tracking definition is any Loan where the borrower's payment is not received within the grace period.

Loan Pools: A group of Loans that may be Performing, Delinquent or mixed. The situation for each Loan in the pool should be disclosed.


Terms Of Use  Privacy Statement