Back Up Servicing

LoanCare offers three levels of Backup Subservicing: cold, warm and hot backup.  Depending on the level of support, LoanCare will:

• Be ready, willing and able to assume the duties of the previous servicer
• Receive a quarterly (or as often as agreed upon) data file for mapping and verification of transfer field purposes from an existing servicer 
• Accept a transfer of servicing and proceed to load and service the loans as if it were a new client