Loan Servicing & Collections

You process loan payments (P&I, escrow, fees), manage escrow accounts (property tax and insurance disbursements, escrow analysis, shortage/surplus management per RESPA), handle payoffs, apply partial payments per your waterfall hierarchy, and manage late charges. For mortgage servicing, you manage investor remitting (guaranteed vs. actual), pool-level reporting, and GSE compliance. Escrow administration alone involves thousands of tax and insurance disbursement deadlines annually.

You manage the delinquency lifecycle: early-stage collections (30–60 day calls, payment reminders, payment plan offers), mid-stage workout (60–90 day forbearance agreements, loan modifications, repayment plans), and late-stage resolution (120+ day foreclosure/repossession, short sale, deed-in-lieu, charge-off). You comply with CFPB Reg X mortgage servicing rules (loss mitigation procedural requirements, dual tracking prohibitions, single point of contact requirements), FDCPA for third-party collections, state-specific foreclosure timelines and requirements, and SCRA protections for military borrowers. For commercial, you manage classified asset reviews, TDR (troubled debt restructuring) determinations, and workout negotiations.