SLS Joins LTAMS – Land Title Association of Mississippi

Southern Loan Servicing is also excited to announce our attendance at the upcoming LTAMS annual conference in Biloxi. We strive to educate ourselves on the constant changing environment within the title industry by joining associations and attending seminars. This is one of the many things that sets SLS apart from our competition. We are committed to ensuring each and every transaction we facilitate is handled professionally and securely, and freely share our expansive knowledge with our clients.

LTAMS has great educational courses available and there is still room to join us at their conference May 5-6 2022.

Title Companies that work with the Loan Servicing company are able to offer their clients a better service experience. And get the closing on the front and back end of the transaction. Word of mouth and building relationships with your clients builds the trust they want and need for such an important time in their life.

PENDING FEDERAL FORCLOSURES EXTENDED

But what happens next?

Even with extension after extension, nothing is guaranteed, and what ultimately will occur is extremely influx. Southern Loan Servicing can help homeowners seeking a permanent solution and avoid the foreclosure process altogether!

How selling the property as subject-to or Bond for Deed may help 

The seller is not paying off the existing mortgage. Instead, a new buyer is taking over the payments. The unpaid balance of the existing mortgage is then calculated as part of the buyer’s purchase price. The buyer may need to have a down payment to cover the past due payments, or the seller may need to work out a plan with their mortgage company before completing the new sale. Still, it could prevent foreclosure and the negative impact on credit.

Under a subject-to agreement or Bond for Deed, the new buyer makes payments to a loan servicing company (like us!), who in turn makes the payments to the seller’s mortgage company. 

Read More Here

6 Reasons Title Companies Grow

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.

Using Real Estate

As a retirement investment

Thousands of 401(k) plan savers have pulled money from retirement savings during the coronavirus pandemic.

You aren’t alone.

But here’s some good news: Southern Loan Servicing is putting a new twist on the benefits of investing in real estate. As a hot summer housing market shows no signs of slowing down for fall, we know our title friends are busy closing deals for homebuyers and savvy real estate investors alike. 

With new, unprecedented lending requirements shutting many homebuyers out from traditional bank-owned mortgages, owner financing is on the rise. For sellers, owner financing is a great way to safeguard their financial security from whatever swing the stock market takes next!

With home prices skyrocketing and motivated buyers on the hunt, owner financing transforms the house you want to sell into an investment property. Instead of the bank, the buyer repays the seller — and that’s where Southern Loan Servicing steps in. We are your expert in ensuring these agreements are administered efficiently and transparently.

The opportunities might not be endless right now with your 401(k), but they are with owner financed notes! We turn home sellers into smart investors every day.

Southern Loan Servicing is doing our part to breathe new life into real estate investments. Just ask our satisfied customers who are weathering these unpredictable times with confidence. 

Interested in what owner financing can do for you and your portfolio? To learn more about what we have to offer, visit southernloanservicing.com.

90% of business without a disaster recovery plan will fail after a disaster.

When natural disaster strikes, our industry-leading protections mean our title partners won’t miss a beat for their customers.

For instance, hurricane season can stir up a lot of worries for the real estate title industry. No matter what the forecast has in store, Southern Loan Servicing is here to help you weather the storm.

Southern Loan Servicing is a must-have asset to your emergency plan. Forced to change your normal business operations? Our document library means you can deliver excellent services to your customers from any location.

We safely and securely maintain backups of all-important records tied to our transactions, from original documents to payment histories and tax forms. So, our title friends have one less thing to worry about.

After 2020, we’ve seen just how important it is to have a recovery plan.  Southern Loan Servicing worked seamlessly as we’ve transitioned between working in an office environment to going remote with no service interruptions.

90% of business without a disaster recovery plan will fail after a disaster.

Having plans in place to keep your business running during a disruptive event makes all the difference and gives you peace of mind. Here are some steps to consider in deciding how you’ll handle any emergency that may arise.  

If you currently work with us, you know Southern Loan Servicing thinks strategically, so you won’t lose out on an opportunity or disappoint customers. We are the expert you want on your side for owner-financed transactions – and our support doesn’t end when the deal is finished.

Southern Loan Servicing is your partner in getting the job done. No matter what 2021 decides to throw at us next, we’ve got you covered! To learn more about what we have to offer, visit southernloanservicing.com.

A Partner You can trust

Southern Loan Servicing is here to be the loan servicing provider title companies have come to trust for more than three decades. We know your summer is off to a hot start, but there are still some deals that can’t be closed using traditional financing.

That’s where Owner Financing, Land Contracts, Bond for Deeds– and Southern Loan Servicing — can come into play for you and your customers. 

The Southern Loan Servicing team are the experts you want working on your side for these deals. We’re 100 percent committed to security, efficiency and leveraging our experience to make sure your clients’ dream homes don’t slip away from them.

Owner-financed loan agreements give buyers and sellers the flexibility to agree to the terms of a purchase – and put their plan into action. We pride ourselves in an unwavering commitment to the security of these arrangements. With cyber criminals looking to take advantage of the real estate closing process through mortgage or wire fraud, Southern Loan Servicing offers the safest loan administration solution on the market.

For those reasons, and many more, loan servicing is quickly becoming its own specialty. That’s why you need a company that knows what it’s doing. 

Here’s just some of what you get when you do business with Southern Loan Servicing:

– Access to a team of loan-servicing experts that work with Title Companies to ensure a seamless transaction from closing table to long-term clients
– An innovative customer-service model, with the most up-to-date information at our buyers and seller’s fingertips, 24/7, through our online portal
– An attention to detail and follow through on loan administration, so clients receive a seamless experience

Alternative to traditional Mortgage

Picture this: A buyer finds their dream home, but the fairytale is derailed by a financing nightmare. It’s not hard to imagine, especially now. Though the housing market is bouncing back from the initial shock of the COVID-19 pandemic, buyers are facing tougher requirements in securing a mortgage.
increasingly, mortgage companies are requiring higher credit scores, larger down payments and longer track records of financial stability from hopeful buyers than before COVID-19. Adding to their concerns, buyers who fall short of these strict guidelines could find themselves facing higher interest rates or delays in traditional lenders processing their application. Not even government-backed loans, which are typically great options for first-time homebuyers, are immune to these types of mortgage overlays.

This new reality makes owner financing a great and innovative option for eager buyers and sellers. They decide a repayment process that is feasible for both parties, not the bank, and can skip the arbitrary lending requirements. That means they can get to the closing table faster and go on living life. Read more here.
 

Simple and safe loan administration

We stand with our real estate closing partners to provide the most accessible and user-friendly loan servicing on the market! Title companies truly have been industry leaders during the public health crisis, embracing technology in new ways to maintain a high standard of customer service. 

Opening an account is as easy as gathering some standard documents and contacting us for a quick chat. And the convenience doesn’t stop there. Our clients can access important account information securely from the safety of their own home. 

If you currently work with us, then you know that we pride ourselves on offering both buyers and sellers a safe and transparent platform for their loan agreements. We independently document all aspects of loans, from payments made down to outstanding balances and tax forms. 

We are happy to offer 24/7 online access to your account details, such as loan balance, payment due dates and account history. Rest assured that this data is secure and can only be accessed by you by means of your Borrower Account number and a PIN that we have assigned. That means you can worry less – and enjoy life more!

A partner you can trust

At Southern Loan Servicing, we pride ourselves on facilitating authentic relationships between sellers and buyers for some of life’s biggest purchases!
 
We specialize in the administration of installment loans, making the process as transparent as possible for all parties involved. As Louisiana’s largest Bond for Deed servicing firm, we have seen firsthand the benefits of relying on a professional to oversee your loan!
 
Southern Loan Servicing offers:
 – 24/7 online self-service account management
–  A paper trail with independent documentation of payments made and outstanding balances
 
Why use a loan servicing company?
In owner-financed installment loans, the seller allows the buyer to pay for a purchase using a payment schedule. Southern Loan Servicing offers a hassle free option to ensure the terms of the loan are met.
 
We collect the payments and take care of the fine print – so our clients don’t have to!
 
Whether you have seller-financed real estate payments, long term escrows, private notes, mortgages or other amortizing loans, we can service it for you. Southern Loan Servicing wants to manage the repayment schedule of the loan, so our clients can be stress free.

For those of you who already know what our servicing does to simplify your life, check out and follow along on our social media pages! 

A partner you can trust!