Standard Loan Servicing

Loan Servicing

Standard
Loan Servicing

Specialty
Loan Servicing

Mortgage Fund
Servicing

Foreclosure
Servicing

Funding

Escrow

REO
Management

Eviction
Services Referral

Bankruptcy
Relief Referral

Secured
Investment

Buy Loans

Sell Loans

FCI offers a comprehensive high quality Loan Servicing solution with excellent pricing. We service individual loans and loan pools of any size for Brokers, Lenders, Institutions, and Private Investors. Most services are available nationally.

SERVICING PROGRAMS

Primary Servicing

Sub Servicing

Private Label Servicing

Interim Servicing

LOAN TYPES SERVICED

Residential Loans

Consumer Real Estate

Commercial Real Estate

Manufactured Housing

Land

Prime

Sub-prime

Fixed

ARM

HELOC

STANDARD PROGRAMS FOR BROKERS AND INSTITUTIONS

BASIC LOAN SERVICING PROGRAM: The fee is $15 per month per Investor/Lender. Add $5 for HELOC and/or Variable loans. Loans over $600,000 are 0.075% of the unpaid principal balance divided by 12 ($1M equals $62.50 per month), or $15 per month per Investor/Lender, whichever is greater. There is a one time Loan Setup Fee of $25 per loan. Disbursements, Draws, and Assignments after a loan is set up are $25 each. There is a $45 cancellation fee if a loan is cancelled within 6 months of setup, excluding payoffs. This program includes:

Loan Servicing Features (non default)

Borrower Welcome Letter
Borrower Monthly Statement with Payment Coupon
Lender Welcome Letter
Lender Monthly Statement of all Accounts
Same Day Payment Posting
Electronic deposit of Funds (ACH) into Lender's account
Payoff Demands
Rush Demands
Subordination Agreements
Assignments
Disbursements and Draws
Releases & Reconveyances
IRS 1098 and 1099-INT Reporting
Paper or EDI Communication
24/7 On Line Secure Account Access for Brokers and Investor/Lenders
Downloadable Reports for Brokers and Investor/Lenders

DEFAULT SERVICING

FCI handles the Default Servicing on all loans serviced. This is an integral and required part of our Loan Servicing programs.

Late Notice sent at 15 days delinquent
Foreclosure Notice sent at 31 days delinquent
Borrower inquiry calls handled
Act as intermediary between Borrower and Broker or Investor/Lender
30 day Notice of Intent letters available
Foreclosures started immediately upon written request by Broker or Investor/Lender
Foreclosure processing
Legal Services coordination
REO management and property sale available

Recommendation Note: It is recommended that the Broker or Investor/Lender file a Loss Payee Notice with the insurance company, check for payment of taxes once a year, and file a Request for Notice of foreclosure with any senior lien holder.

FULL LOAN SERVICING PROGRAM

Only available on CA loans when FCI supplies the Investor/Lender and/or packages the loan. The fee for Senior loans is 0.50% of the principal balance paid monthly. The fee for Junior loans is 0.75% of the principal balance paid monthly. There is a minimum of $30 per month per Investor/Lender. Add $5 for Variable loans. No HELOC's. FCI retains 100% of the collected Late Charges. If the loan pays early FCI retains 50% of the paid pre-payment penalty. This program includes all of the BASIC LOAN SERVICING PROGRAM features plus:

Senior Lien Tracking:
- File Request for Notice of foreclosure and notify Broker or Investor/Lender of known foreclosure Sale dates
Insurance Tracking:
- File Loss Payee Notice and notify Broker or Investor/Lender of known lapse in insurance
Property Tax Tracking (minimum sign up fee $67 SFR, $134 Commercial):
- Notify Broker or Investor/Lender of known non payment of taxes
Outgoing collection calls

COLLECTION

The pre-foreclosure Default Servicing starts when the Borrower Payment is 15 days past due. The Collection fee is 50% of paid Late Charges for Basic Loan Servicing or Full Loan Servicing. This program includes:

Late Notice sent at 15 days delinquent

Foreclosure Notice sent at 31 days delinquent

Borrower inquiry calls handled

Act as intermediary between Borrower and Broker or Investor

Geographic Area

We service throughout the nation.

If you have questions or would like more information, please CLICK HERE.