Back Up Servicing

LoanCare offers three backup subservicing programs: 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 from an existing servicer quarterly or as often as agreed upon, a data file for mapping and verification of transfer field purposes.
• Accept a transfer of servicing and proceed to load and service the loans as if it were a new client.