Loan Servicing

Cash Operations Services

Our experienced loan servicing team has the ability to help with basic cashiering functions like processing various mortgage fees, disbursement of suspense funds and processing of loan payoff statements. Also, mortgage clients benefit from our advanced account receivable and cash workflow management services.

Throughout a mortgage lifecycle, many products and services are used from multiple vendors that result in many one-time and on-going fees that must be paid as per agreed upon terms between the parties. At CES, we track and reconcile vendors’ invoices for appraisal reports, construction inspections and insurance policies etc. Our team validates and ensures that vendors’ invoices are accurate as per agreed upon financial and business terms. We identify and report discrepancies that help prevent financial losses due to fraud and innocent mistakes.

Maturity & Default Services

Tasks associated with loan maturity, pay off and default management generate significant back-office and non-core activities. Although software tools and improved workflows provide operational efficiencies, however, well-trained mortgage experts are required to oversee and manage these mission critical tasks at various touch points. Example of such tasks include:

• Tracking and updating loan maturity amounts and dates
• Issuing loan maturity letters to borrowers
• Calculating and updating loan payoff amounts in a mortgage tool/CRM
• Keeping track of risky borrowers and issuing sensitive communication as per policy
• Sending default letters to borrowers who have missed monthly payments
• Creating and providing customized reports to clients as per their business needs

Keeping loan tapes accurate and up-to-date is a daunting challenge due to data quality issues and inherent complexities in mortgage processing operations. The benefits of having accurate and complete loan tapes extend well beyond loan servicing. Lenders, financial institutions and investors make critical investment decisions based on information in loan tapes. At CES, our mortgage support specialists ensure that loan documents are accurate, complete and well organized for immediate retrieval as needed. For loan servicing needs, we rely on loan tapes to calculate interest and pay offs amounts as well as for issuing default and maturity letters to borrowers.