LOAN FULFILLMENT SOLUTIONS

Subservicing

Outsource your mortgage servicing needs to Nations in order to expand capabilities with less dependence on infrastructure.

Interim Servicing

Interim servicing with Nations allows our clients to escape the pitfalls associated with selling loan servicing released in the secondary market. From the moment a loan closes until it is service released, Nations can perform fill the critical steps necessary.

• Avoid late payments and defaults
• Ease the transition for borrowers and improve the customer experience
• Improve execution in the secondary market without the need of selling loans quickly
• Lessen the chance of borrower confusion through welcome calls explaining payment submission and the lender relationship
• Reduce labor costs by outsourcing tasks like payment processing, tendering customer calls, and year-end reporting
• Relax knowing that all customer interactions in compliance and properly documented

Support in every phase

Pre-Sale

• Load loan into our subservicing system
• Welcome Borrowers via calls and letters
• Respond to borrower questions
• Determine destination for payment
• Apply payments
• Facilitate multiple purchasers/investors

Post-Sale

• Assist in preparation of agency transfer forms
• Coordinate loan transfer
• Facilitate monthly reporting on payment remittance
• Pay open escrow items and when applicable report funds to investors
• Review seller / client purchase advice
• Report monthly purchase advice to sellers/clients
• Send goodbye letters
• Transfer escrow account funds

Post-Release

• Prepare and distribute 1098 forms at year-end
• Respond to questions from purchasers / investors
• Remove loan from subservicing system

Backup Servicing

NCS has the experience and capability to accept a transfer of a servicing portfolio at a predetermined and agreed upon time, while ensuring little or no disruption of the borrower experience or portfolio performance. There is a wide range of needs for backup subserving from standby arrangements and rating agency requirements to best practice contingency planning. NCS strategic and operational expertise will help build the right solution to meet your specific business objectives.

Capabilities and Benefits

• Maintains a readiness to assume the duties of a previous servicer
• Receives, maps and verifies data at predetermined intervals during a given year
• Accepts a transfer with proper written notice
• Boards and services loans in a live environment

Component Servicing

Besides providing full subservicing solutions, Nations allows its clients to choose which specific capability to leverage. Detailed below are several standalone components Nations offers.

Loss Mitigation

When critical financial trouble afflicts homeowners, Nations initiates early contact to discuss alternatives to foreclosure.

Clients can select any or all of the following services to mitigate potential loss:

• Borrower Outreach: Contact borrower (inbound and outbound), discuss hardship and determine course of action
• Processing: Administer hardship packages and collect required information and documentation from the borrower(s)
• Underwriting: Determination of eligibility for various workout options based on documentation supplied and investor/agency guidelines
• Fulfillment/Closing: Based on workout option chosen, create, distribute and collect executed documents
• Trial Payment Plan Monitoring: Monitor progression of payments throught trial period; provide white-glove services to contact borrower to remind of payment and consequences of a missed payment
• Recordation: Record the workout option with the county recorder as required
• Execute Short Sales / Deed in Lieu
• Implement Quality Control Review
• Manage Mass Mods
• Perform Second Looks

Delinquency Resolution / Default Management

Nations goal is to transition delinquent loans into performing assets in every possible case. This starts with debt management education for borrowers. Our goal is for an increased awareness to improve the chances of future timely payments.

We will work with borrowers to identify the root cause and then resolve any financial concerns that may exist while providing clear expectations. Nations is able to perform the following collection efforts as needed by our clients:

• Borrower Outreach: Both inbound and outbound
• Customized borrower communication plans:
  • Convey repayment plans
  • Determine root cause of default
• Coordinate property visits and post-payment reminders
• Skip Tracing: Locate individual(s) that have gone missing
• Loss Mitigation: Repayment Plans, Forbearance, Deed-in-Lieu & Short Sale discussions with borrower; determination of eligibility; preparation of documents; updating of system.

Foreclosure / Bankruptcy

While our primary goal is to encourage defaulting borrowers to make payments when due, if no arrangements can be made to correct the delinquency, we will provide foreclosure services, as well as monitor portfolios for bankruptcy filings and track the progress of any bankruptcy proceedings.

Foreclosure

• Review equity of property & recommend foreclosure or alternative options.
• Arrange foreclosure, first legal monitoring, timeline management, document management, bid and valuations services.
• Determine foreclosure referral eligibility.
• Order inspections
• Follow up with 3td party funds (3rd party sales)
• Stringent document retention and verification procedures

Bankruptcy

• Daily review of portfolio for new filings, death notices, discharges, and dismissals.
• File motion of relief at the 60th day following default of plan.
• Work directly with debtor counsel to facilitate loan modification or deed-in-lieu of foreclosure for loss mitigation.
• Bankruptcy monitoring (track disbursment of funds from Trustee/Borrower).
• Update client on progression (new filling, account monitoring, payment application and motion for relief monitoring)

ARM/Special Loans

Often times ARM loans or other specialty loans fall outside of the expertise of servicing teams. Our expertise can provide the lift you need to help save time & effort, including:

• Calculate Rates & Payments: Determine new interest rate based on loan document language and correct index values.
• Audit Previous Rates: Determine new interest rate based on loan document language and correct index values.
• Life of Loan Servicing Analysis: Perform Detail Analysis of loans- recasting of payment history to correct past servicing errors.

Loan Boarding

Nations can help maximize profits in your loan boarding program by helping analyze the portfolio value and ensure the handoff is seamless. Our team will ensure documents are not only organized, but will also help correct any deficiencies that may exist. Solutions include:

• Loan Boarding: Adding loans into the loan servicing system.
• Indexing: Identifying and labeling loan documents based on pre-established taxonomy.
• Data Capture: Capturing Recording information from loan documents for use in collateral management systems.
• Loan Verification: Verifying information that is entered into the servicing system; setting up prepayment and satisfaction clauses.
• Exception Clearing: Investigate data and document deficiencies and clear exceptions.
• Trailing Doc Management: Serve as centralized source to receive and review loan documents; Retrieve missing documents from closing agents, recorders offices, etc.; title policy retrieval.
• Curative: Title Curative, Title Replacement Policies.

Customer Service

Providing borrowers adequate support is a key element to the overall experience. Nations can help make sure you retain loyal clients by augmenting your customer service staff by assisting in the following:

• Welcome Calls: Placing welcome calls to the borrowers on behalf of the servicer; verification of personal and loan details.
• Inquiries/Help Desk/Chat: Handing borrower inquiries for level 1 (general) questions/issues and/or Level 2 (more detailed) questions i.e. interest rate changes, default notices, taxes & insurance paid.
• Research: Research requests on lost checks, payments not posted, transaction history details, payment & escrow issues.
• Escalations: Priority research items, payments not posted, ACH issues, clarification of payment plans and contractual payments, payoff quote escalations.

Investor Accounting & Cashiering

Investor accounting and cashiering can be a taxing process. Let Nations provide the lift you need to ensure precision & accuracy. This includes:

• Investor Reporting: Perform daily, weekly and monthly balancing and remittance to private investors.
• Bank Reconciliations: Reconcile P&L and custodial trust accounts; research discrepancies/reconciling items.
• Payment Processing: Application of payments to loans.
• Exception Processing: Research requests on lost checks, payments not posted, payment & escrow issues.

Escrow Administration

Nations has decades of experience navigating the intricate rules and regulations around the escrow process. We specialize in the following services:

• Escrow Analysis: Review and perform escrow analysis.
• Hazard Insurance Verification: Review hazard insurance information against current insurance declaration pages.
• Tax Verification: Verify proper tax information based on loan documents and county information.

Payoffs & Releases

Nations team of professionals can add efficiency to your payoff and release departments.

• Payoff Requests: Process Payoff Requests.
• Lien Releases: Prepare and Record lien releases.

Post Foreclosure/REO Asset Management

Nations can help ease the post-foreclosure process.

• Inspections: Monitor and review property inspection results.
• 3rd Party Oversight: Validate appropriate expenditures, and review invoices for allowable limits and statutory compliance.
• Property Preservation: Property Preservation.
• REO Asset Disposition: Initiate eviction, monitor loans until lockout.
• BPO/Valuations: Determination of value.
• REO Asset Management: Manage REO properties by conducting market and repair analysis and providing listing recommendations; Marketing & Sale of the REO property.