Loan Servicing

Only contract mortgage processing services company, providing processing support that cuts across originations as well as post-close

PrivoCorp offers loan servicing support to Mortgage Servicers to help them improve borrower experience and retain their customers

We understand that servicing loans is not a very easy task as its much more than retaining a portfolio and collecting payments; it’s about meeting the evolving needs of your customers and delivering an improved borrower experience. Our team ensures that we understand the needs of your clients and that we are proactive in our communications to the borrowers and provide timely services.
Our 10+ years of experience working with customers ensures that our servicing clients rely on us to manage their loan portfolios. Many of our clients choose to partner with us as we offer end-to-end mortgage servicing support right from Loan Boarding to managing default operations and loss mitigation.

We are also the only service provider who proactively manages vendor relationships to let our clients focus on their core business functions rather than aligning resources to vendor management. Additionally, our digital compliance, use of the latest technologies, and holistic approach set us apart from other mortgage service providers.

Peoples Processing has a suite of services for Loan Servicing such as:

Loan Processing Support

  • Loan Boarding: We assist mortgage servicers with introductory customer communications, set-up loan information on the servicing system, authenticate given information and validate that all needed documents/information are available in the loan file.
  • Investor Reporting: Offers generation of investor accounting reports based on the given directions.
  • Invoice Management Support
    – Involves invoice generation, communications with customers and aligning timely invoices
    – Data entry for check payments and payment exceptions
    – Aligning payments to the specific account – Correcting misapplied payments and excess funds
    – Managing payment returns and bankruptcy warnings etc.
  • Loss Mitigation: Support mortgage servicer in cases of foreclosure and default in loan modifications. Also involves early-stage collections and inputting that information on loan modifications and customer contract.
  • Mailbox Management
    – Involves responding to the customer requests / queries via Email or Calls within the desired SLA
    – FC Invoice Approval – Approve / Deny the invoice requested by Attorneys in reference to pre-defined FNMA guidelines
    – Excess Fee Approval- Approve / Deny excess fees requested by Attorneys in reference to the service approval

Underwriting & Quality Checks Support

  • Escrow Management
    – Perform escrow account maintenance activities such as creation, modification, deletion of escrow accounts
    – Assist in the generation of reports of Principal, Interest, Paid Taxes and Insurance (PITI)
  • Payoff Processing Generate the payoff quote by keying the accurate fees and costs along with the good thru da
  • Modification System Update Update the Servicing System with the new terms post loan modification in reference to the signed and executed loan modification agreement.
  • DCA Management (Department of Consumer Affairs)
    – Review mails / requests from customers on a daily basis and forward to the concerned department by pushing to appropriate queue in the servicing system
    – Follow up with internal stakeholders and respond in a timely manner to avoid CFPB consequences
  • Bank Reconciliation Perform accurate recon of deposits against payments made towards taxes and insurance before finance team release the funds to vendors

Benefits of partnering with PrivoCorp for Servicing

  • Over a decade of experience in Nationwide Loan Processing
  • Headquarters in Austin, TX with two production facilities located in India
  • Experience working with all the leading LOS, Compliance and Servicing platforms
  • Flexible engagement model to help you reduce fixed costs
  • SSAE 18 compliant (SOC 2 audit in the process)
Us Mortgage Origination