Set Up Basic Loan Service:
To set up a new loan servicing account, simply email or fax the following loan service set up documents:
- Signed Promissory Note
- Signed and Recorded Deed of Trust
- Any Assignments of Deed of Trust
- Borrower's phone number, email and mailing addresses
- Lender's phone number, email and mailing addresses
- Completed W-9 for borrower and lender with copy of ID
- Payment history if any payments have already been paid
That's it.
Set Up Fee: $45
We will send you the Loan Servicing Agreement for the lender's signature. Once the signed agreement is received, we will forward ACH Set Up Instructions for completion if desired. We will notify the borrower and send the lender the monthly payments after deducting the loan servicing fee.
Our Basic Loan Servicing does NOT include: Monitoring any property taxes, fire insurance or other liens, pre-foreclosure or default collection. Please note, if the borrower is delinquent, we will retain the late charge to cover the additional costs of collection.
Send us an email with any questions or set up your account or Fax your documents to: (619)752-1654 email us at umsi@umsi.biz
