How to Pick a Loan Servicing Company for Your Note Business

Are you a note investor wondering how to pick the best loan servicing company? In this episode of the Note Closers Show, Scott Carson reveals his top 5 keys to successful loan servicing and helps you avoid common pitfalls. From licensing and minimums to service support and communication, learn how to navigate the loan servicing landscape and protect your investments.

Here's what you'll discover:

• When to Hire a Servicing Company: Learn when you need to hire a loan servicing company.
• Red Flags: Self-Servicing: Understand the risks of self-servicing and why third-party servicers are often preferable.
• Retaining Existing Servicers: How to keep the same servicer for seamless transitions.
• Licensing Importance: Why ensuring your servicer is licensed in the relevant states is crucial.
• What To Look For In a Servicer: Navigating the Loan Servicing Landscape.
• Avoiding Bad Servicers: Learn how a bad servicer made a 50% reinstatement rate.
• Servicing Options: Uncover a myriad of servicing options available to note investors.
• Servicing Company Requirements What to Expect When Hiring.
• Minimums: Avoiding servicing companies with high minimums and monthly bills.
• Service and Support: The importance of good service, a quality support team, and how to evaluate it.
• Cost Analysis: How fees and billing practices, can impact your note portfolio.
• Direct Communication: Learn about the importance of direct communication with servicing counsel.
• Managing Non-Performing Notes: Strategies for handling non-performing notes with a servicing company.
• Adjusting Payment Schedules: Adjusting how payments are made on your servicing schedule.
• The Importance of VA's: Why having a VA is the way to go with managing non-performing notes.
• Common Mistakes: Discover common challenges and setbacks when working with servicing companies.
• Firing Your Servicer: When to fire a servicer.

Conclusion:

Don't let bad loan servicing sink your note portfolio! This episode gives you the knowledge to choose a reliable servicing company and maximize your ROI. Contact me today and let's get you closing!

Watch the Original VIDEO HERE!

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