How you get paid each month! GREAT FOR RETIREES AND THOSE ON A FIXED INCOME
Loan Servicing: Is the process by which a company mortgage company, bank, servicing firms, etc. collects interest, principal, and escrow payment from the borrower. The payments collected by the mortgage servicer are remitted to various parties; distributions typically include paying taxes and insurance from escrowed funds, remitting principal and interest payments to investors holding mortgages and / or Deed of Trust. and remitting the fees to mortgage holders, trustees, and other third party providing services. The level of service varies depending on the type of loan and the terms negotiated between the servicer and investor seeking their services, and may also include activities such as monitoring delinquencies, workouts, restructurings and executing foreclosures.
In exchange for the performing these activities, the servicer generally receives contractually specified servicing fees and other ancillary sources of income such as float and late charges, Mortgage servicing became profitable during the housing boom and some servicers targeted borrowers "less likely to make timely payment" in order to collect fees. The process is simple. After the loan closes the client has 30 days till the first payment in most cases. In order that the investor can remain "buffered" to the borrower the borrower send the payment to the "Servicing Company" and the Servicing Company is usually close the the investor to where the investor can pick their investment return weekly, mailed, or directly deposited and the Servicing Company also takes care of all Federal and State paperwork.
Angel Alliance Funding Association 2036 North Gilbert Road #243 Mesa, AZ , 85203 801-915-4537 firstname.lastname@example.org SKYPE: vsmock0625
What Our Clients Are Saying
"The investment into Trust Deeds is simple and easy to understand. Our funds are guaranteed to pay us 14% a year and our money is secured by Prime real estate and being retired we get our check deposit through direct deposit from the company that services our loan"!