Do You Use LoanCare as Your Subservicer?
Articles by: Richey May, Aug 14, 2020
Our annual subservicer oversight review over LoanCare will take place later in August to assist lenders with their monitoring and oversight responsibilities.
Our subservicer oversight program and subsequent 120+ page report provides value beyond the basic compliance requirements.
With a focus on current and ongoing procedures as a result of the COVID-19 pandemic, the review includes:
- interviews with all key department heads to observe their processes and challenges
- a comprehensive review of business continuity and IT assessments to ensure client and consumer information remains secure
- a summary of the subservicer’s notable accomplishments, challenges, and strategic initiatives for the future.
- Optional loan level testing is also available to provide succinct and valuable insight into how your personal portfolio is being serviced, potentially uncovering unobserved information and assisting in the client-subservicer relationship.