Primary Loan servicing
Back Up Servicing
Receivables Management and Skip Tracing
Solutions Se’loosh-ens (N.) – Solving a problem or difficult situation
Merriam-Webster defines the word solutions as; solving a problem or difficult situation. Here at Servicing Solutions we know that there is a lot more to it than that. We believe in comprehensive full service partnerships designed to remove the obstacles preventing rapid growth for your business.
Primary Loan Servicing
Servicing Solutions is a full-service partner with the unique ability to service portfolios in all asset types and credit classes.
Our three-channel approach to primary servicing includes:
• Conduits (daily flow relationships)
• Bulk transfer transactions (portfolio acquisitions)
• Early out, first party collections as a natural extension of your business at any stage of the servicing process
We understand the importance of a customized servicing assignment. Therefore, we provide each assignment with a single point of contact who oversees a dedicated client management team. Private label, co-branding and third-party customer interaction options are available based on a client’s individual requirement.
back up Servicing
As a back-up servicer, Servicing Solutions will add value to any portfolio. In addition to meeting stakeholder requirements, Servicing Solutions provides back up servicing plans for unexpected servicing interruptions on various levels. Whether the loans are serviced in-house or by a third party, we provide:
• Hot plus back-up servicing – Running full parallel systems and act as a primary servicer role on a portion of the portfolio. This provides a champion challenger environment that allows you to observe the effectiveness of your primary and backup servicer. Additionally, it provides Servicing Solutions a deeper understanding of the portfolio and substantially shortens the transition timeline if necessary.
• Hot back-up servicing – Running partial or full parallel systems with the primary servicer or mapping data to a contingent servicer with ongoing established file upload tests.
• Warm back-up servicing – System to system data mapping. Receiving, reviewing, and storing portfolio data files. Reviewing monthly servicer reports and performing surface level verification.
• Cold back-up servicing – We are named as possible successor servicer with minimal preliminary transition preparation.
When activated, we ensure a smooth transition from back up to successor servicer by transferring the portfolio in a seamless manner. We maximize portfolio performance by creating a transition plan, performing third party due diligence, and performing a monthly review when data is provided.
and Skip Tracing
Receivable Management and skip tracing
Our partner, Recovery Remedies, is a private collection agency in the United States with extensive experience in third party collections. We utilize a customized operational approach for each and every collection program. Our proven expertise results in superior performance while adhering to the most stringent industry standards, guidelines and applicable laws. We merge innovative technologies and sources with proven skip tracing techniques to offer state-of-the-art locate capabilities to maximize recoveries and provide superior results.
Servicing Solutions’ team of multidisciplinary subject matter experts have created loan servicing consulting solutions to help you identify, tackle, and resolve the most difficult operational and technological challenges faced today.
By creating a team with decades of direct operational and leadership experience, we combine the best minds in the business with industry-leading technology. This results in a customizable consulting package to meet the needs of any loan servicing operation.
Collaboration Leads to Success
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