FOR MORTGAGE BROKERS
As a Mortgage Broker, we understand you have many clients who are counting on your expert advice and guidance. Allow our team to guide you so that you may grant your clients the opportunity to avoid delays and high costs.
Our expert administrators will ensure both you, and your client are properly managed.
We Administer and service the mortgage loan and payments on behalf of the lender, especially if it is a private lender of the Mortgage Professional. This includes, but it not limited to:
- Receive the mortgage funds on the day of closing in escrow/trust to be released to the lender’s lawyer once all closing conditions have been met.
Collection and Default Management:
- Process periodic loan payments
- Respond to borrower inquiries, including preparation of mortgage information statements, annual statements, payout statements, full or partial discharges, payment frequency changes, changes in covenants or mortgage assumptions
- Keep track of principal and interest paid
- Post, transfer or deposit lender’s cleared funds to their account
- Keep track of any changes in payment dates, NSFs, late payments, accrued interest
- Demand payments that are in arrears, verbally and in writing
- Make sure property insurance is in place and appropriately identifies the lender a loss payee
- Obtain property tax certificates and make sure property taxes are kept up to date and administered
- Notify the borrower immediately of any forms of default and make sure it is cured within the allotted time frame or enforced upon.
- Enforce and foreclose or power of sale the collateralized properties
- Remind the lender and/or mortgage professional of any upcoming renewals
FOR LAW FIRMS AND LAWYERS
The Mortgage Administrator Inc. works with legal representatives with duties from titles/escrow to estates and everything in between. We offer professional and dependable service with endless reporting abilities, not to mention accurate record-keeping. In estate situations where an investor has passed, we offer thorough reporting and documenting to the estate trustee. Let our team here at the Mortgage Administrator Inc. assist with:
- Accurate and secure record-keeping and file maintenance
- Estate planning services
- Preparation and issuance of detailed reports
- Administration of documents as necessary