Default Loan Servicing

Default loan servicing with full collections works to turn your non-performing assets into performing assets through loan modifications, forbearance payment plans, facilitating the foreclosure process or obtaining a deed from the borrower. Our staff is trained in collections, workouts, foreclosure, skip tracing and working with third parties to help you maximize your investment.

Full Collection Servicing fees

Full Service Collection Fees 
Loan Setup$40 per loan
$30 per loan for 10+ boarded at one time
Loan Setup: more than one Investor/LenderAdd $20 per additional Investor/Lender
Loan Setup: ARM/HELOCAdd $150 per loan
Loan Seup: with Escrow ImpoundsAdd $15 per loan
Performing BK or Forbearance Plan setup$150 per loan
Collections fee: Loan up to $1M$95 per loan/month
Collections fee: Loan over $1M Add $20 per $M or portion thereof per loan/month
Additional Monthly Servicing fee:$20 per Lender per loan
Variable rate loans (HELOC/ARM)additional $5 per loan/month
Optional Escrow Processing$15 per loan/month up to 2 entities (tax, ins) $2.50 each additional entity
Loan Reset feeSee Additional Servicing Fees tab

Optional Escrow Processing:  When a borrower’s monthly payment on a performing first mortgage includes amounts for property taxes, home owners insurance and/or HOA fees, MMS will collect those funds into a separate account and disburse the funds to the appropriate party when they become due.  The fee is $15 per loan per month and will be added to the monthly servicing fee.

* Fees subject to change

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