Keeping collateral files “perfect” while completing the post-closing process, preparing for Mortgage Servicing Rights (MSR) trades and managing defaulted loans is often a difficult task to manage. It’s important for lenders to work with a top mortgage expert like First American Mortgage Solutions to help perfect their collateral files.
The CleanFile SolutionsTM suite of post-closing and loan servicing collateral file management tools gives you the ability to close gaps, address critical timelines in the post-closing process, and the ability to apply our capabilities comprehensively – at organizational scale.
Collateral file perfection occurs at several points in the lending and servicing process:
- Receipt of the original closing package
- Receipt of the trailing documents
- Initiation and completion of servicing transfer
- Iinitiation of default action
- Loan payoff