by outsourcing loan servicing
Our title friends have set an impressive pace as they’ve scored wins for their customers during this unprecedented year.
But for every win, there have been those cases that have strict restrictions on traditional mortgages which prevents them from closing. When Buyer and Seller have already agreed to purchasing terms, a short-term owner finance may be just the thing to move those loans that need a few extra months to close. i.e. Forbearance plans ending, repayment plans, waiting on income tax documents.
Navigating these cases is what Southern Loan Servicing does best through owner-financing solutions. With forecasts signaling more growth in the housing market in 2021, partnering with us as your owner-financing specialist is a strategic step to grow your title business and offer a new way forward for many of your customers!
Here are six reasons why you should work with us:
- We turn challenges into opportunities. Facilitating owner-financed or land contract sales can expand your customer base.
- We problem solve for you. Owner-financed files that come across your desk may seem daunting. Our servicing experts can review your closing documents beforehand to save you from headaches later.
- We know escrow. We are experts in knowing how property taxes and insurance funds should be held and paid.
- We keep you in compliance. We have dedicated compliance officers to monitor IRS and licensing requirements. We file important forms tied to loan servicing for you, including the 1099INT and 1098 for mortgage interest that individual lenders might accidentally miss.
- Offering loan servicing comes at no additional cost to the title company. The buyers and sellers handle all costs tied to the transaction.
- You can provide excellent service on both sides of the loan. Owner-financed loans typically will return to your title company to refinance or cancel the mortgage once paid.
Ready to offer premier loan-servicing services? Look no further than Southern Loan Servicing (ask our happy customers!) To learn more about our 30 years of local transaction history in Louisiana, visit www.southernloanservicing.com.