Loan Servicing

Crawford Real Estate Services, Inc.'s Loan Servicing Department provides lenders with all servicing needs for a real estate loan, whether arranged through Crawford Real Estate Services or for an outside collection.

1. CUSTOMER SERVICE/PAYMENT PROCESSING:

The customer service department provides answers for borrower's daily questions. A 24-hour voice mail service is provided for borrowers to communicate with us. Payments are applied daily and daily payouts are provided on cash payments, cashier's checks or money orders. Payments received in the form of a personal check, are disbursed on the 11th day, pending clearance of funds. Walkin services are also provided to the borrowers. Payment coupons and envelopes are provided at the end of each year, as well as year end reporting for 1098 and 1099 purposes.

2. COLLECTIONS:

Collection efforts begin at the 10th day of delinquency. Our goal is to avoid referring loans to foreclosure by communicating the delinquency to the borrower with weekly "Delinquency Notices" being sent out and also collection calls. Ifby the 29th day of delinquency, we have had no communication with the borrower, foreclosure action is initiated.
Work out programs may be suggested to the borrower, when there has been a reduction or temporary loss of income and include the following:
Repayment Plans-Accepting various types of payment arrangements to cure the delinquency within a 3 month period with lender approval.
Interest Only/Short Payments-With lender approval, interest only payments can be accepted. Deferal of the monthly interest to the principal balance may also be suggested, with lender approval.
Modifications and extensions are also offered under extreme hardship situations, and must be approved by lender.

Our services also include tracking of property taxes, insurance and senior lien payments. Lenders are advised of any delinquency and the appropriate steps are taken with the
borrowers.

We also provide for the issuance of Beneficiary Statements on junior financing by the borrower and Demand for Pay Off Statements as requested in cases of refinancing or the sale of the property by the borrower. Any funds received from a title company for payment in full of the Note, will be disbursed on the day following receipt.

The monthly servicing fee for these services and other fees, are outlined in the Lender Servicing Agreements, on loans arranged through Crawford Real Estate Services.

3. SERVICING ON OUTSIDE COLLECTIONS

Outside collections require an initial set up fee of $100.00, which may be prepaid or it can be deducted from the first payment. The monthly servicing fee on outside collections is as follows:

1st Trust Deeds 0.5 of a point annually (minimum of $15.00)
2nd Trust Deeds 0.625 of a point annually (minimum of$20.00)
3rd Trust Deeds 0.75 of a point annually (minimum of$25.00)

If the Note calls for late charges on delinquent payments, these are typically split between Crawford Real Estate Services, Inc. and the Lender, 50/50.

Any Notes and Trust Deeds that are lower in priority than a 3rd, the monthly servicing fee will be determined by management.
Crawford Real Estate Services, Inc. also has an in house trustee corporation, Shoshone Service Corporation, that handles all aspects of the foreclosure process, under the power of sale provisions of Deeds of Trust.





Investors: Earn a high rate of return on private trust deed investmentsFForeclosure of notes and land contracts
Call us at 800.624-0399