Loan Servicing

Federal Home Loans Corporation (FHLC) offers a comprehensive nationwide Trust Deed Loan Servicing solution. We service individual trust deed/mortgage loans of any size for brokers, lenders, institutions and private investors. Additionally, our loan servicing program allows us to service fractionalized loans with ease. All computations are computer-driven, and we strive for the highest degree of accuracy.

• Primary Servicing (FHLC is the loan servicer)
• Sub-servicing (broker earns a servicing fee)
• Private Label Servicing
• Interim Servicing
• Residential Loans
• Commercial Real Estate
• Manufactured Homes
• Land
• Any debt requiring payments over time

Account and payment processing is set up as soon as a complete loan servicing package is received. The account and payment processing of the program includes:

• Borrower Welcome Letter
• Borrower Monthly Statement (with payment coupon)
• Lender Welcome Letter
• Lender Monthly Statement
• Same Day Payment Posting
• Tri-monthly Disbursement of Funds (after clearing)
• Electronic Deposit of Funds (ACH) into investor’s account
• Payoff Demands
• Rush Demands
• Disbursements and Draws
• Releases and Reconveyances
• IRS 1098 and 1099-INT Reporting
• Online Secure Account Access for brokers and investors, with downloadable reports

Basic Collection begins when the borrower payment is ten days past due. This includes:

• Late Notice sent at ten days delinquent
• Foreclosure Notice sent at 31 days delinquent
• Act as Intermediary between Investor and Borrower

FHLC strives to avoid foreclosure whenever possible. However, when necessary, we handle the Default Servicing on all loans serviced, which includes:Specific thirty-day Notice of Intent letters

• Declaration of Compliance
• Legal services coordination including bankruptcy relief and eviction
• REO management and property sale services available