Pecos Loan Servicing offers:
- The expert servicing of any type of real estate loan at affordable rates
- The ability to increase your cash flow by improving the collection process
- The eradication of human error and reduction of late payments through our software and experienced staff
- Electronic collection of borrower payments and direct deposits to investors
- Bilingual staff available for both lenders and borrowers via phone calls, emails, and text messages
We will also take care of:
- All of the tasks involved in maintaining complete compliance with state & federally mandated servicing regulations
- Automatic lender payment processing accompanied by detailed monthly lender statements
- Automatic monthly borrower statements and if necessary, delinquency notices
- Accurate tracking of balances, principal and interest payments, insurance policies, and tax payment status
- Collection, tracking and reconciliation of escrow payments into a separate escrow account
- Scheduling escrow payables and managing timely payments of escrow obligations
- Producing Annual Escrow Account Disclosure Statements
- Managing and filing 1098 and 1099s
Pricing Information:
- Simple, fixed pricing without a laundry list of fees.
- Zero setup fees if all required information is provided electronically via Excel and PDF (otherwise we can help for a small setup fee)
Information required to onboard a new loan (this list is just a starting point):
- For new loans, we will require a copy of the promissory note, deed of trust, settlement statement or CD.
- For seasoned loans, we will require the above documents plus payment histories and copies of any prior modifications or extensions.
We do not provide servicing on wrap-around mortgages at this time.