Lender’s selected Attorney must be on FCI’s Approved Attorney List or vetted by FCI for compliance. There is a one-time $225 Foreclosure Coordination setup fee for national Foreclosures (no Coordination setup fee for CA Non-Judicial Foreclosures). Foreclosure costs and timelines vary widely by State, but can be estimated for a particular State.
Loans need to be set up in Specialty Loan Servicing. Foreclosure processes are started per State regulations upon Lender's written request and deposit with their selected Attorney. Your Live Customer Login will show the progress notes for the Foreclosure process in each state – and compare it to FNMA timelines showing the shortest possible regulatory processing times.
The Foreclosure process is for all sizes and types of Loans per State and Federal Regulations, including difficult private money, multi-investor, subprime and complex multi-million dollar Loans.
NOTE: Loans for Foreclosure must be in FCI compliant servicing. The Lender/Investor can never start a Foreclosure without notifying FCI, paying the Foreclosure setup fee, and having their selected Attorney vetted for compliance.