ONE NAME CLEARLY STANDS ABOVE THE REST IN NOTE SERVICING
NAM is one of the largest and most experienced complex, high-touch
sub-servicng firms in the U.S. with more than 200 financial institution clients nationwide
Capture Economies of Scale: Working with a licensed servicer/sub-servicer is more cost effective than building a new internal servicing operation or using an existing servicing platform with a smaller volume. The cost of multiple required servicing technologies, trained staff, various support systems and compliance monitoring make it extremely difficult to be cost competitive servicing smaller portfolios.
Enable Regulatory Compliance: Agency, federal and state banking regulators, state attorneys general and local municipalities have imposed significant new requirements for mortgage asset servicing. There are heightened requirements to provide more detail and frequent reporting of all consumer interaction, Loss Mitigation and default management activities. A proven servicer/sub-servicer has the technology and expertise to capably perform those servicing related duties on your behalf.
Reduce Liabilities: The cost of non-compliance and and potential fines being imposed by regulatory authorities and agencies. Failure to comply with these requirements exposes self-servicers to the possibility of significant penalties and fines that can eliminate the economic benefits of owning servicing and that Company.
Access Enhanced Technologies: Ensure that your company is up to date with secondary market remitting and reporting methods and the multitude of state and local servicing requirement for collections, loss mitigation and default management. In addition to the core servicing system, additional systems are required for Loan Origination Systems and general ledger integration, lockbox processing, business intelligence and customer reporting, inbound and outbound call center management, automated voice response, borrower on-line payment and statement access, automated dialing, loss mitigation, collateral release preparation, investor reporting, bank reconciliation, investor on-line servicing reporting and other support functions.
Servicing Tasks NAM Performs:
- All asset administration functions
- All investor reporting and reconciliation
- Credit bureau reporting
- Preparing management reports on portfolio status and behavior
- Providing statistics and servicing quality reports to management Managing delinquencies and collection activities
- Overseeing compliance and all government regulations and secondary market investors' requirements
- Understanding the unique relationship with consumers and committing to providing the same level of service