Backup Servicing

Maintaining continuity of mortgage loan servicing can sometimes become a challenge for investors and lenders with servicing portfolio. Sudden mortgage servicing outages can be disruptive to business.  This can happen with both third-party servicer or with onboard operations. It is a good practice to have a backup service provider as a contingency. ServiceMac has the processes and technical know-how in place to step in and start firefighting operations. ServiceMac has customized solutions to quickly onboard the servicing portfolio into live environment and contains disruption in customer expectations or portfolio performance.

ServiceMac backup servicing generally comprise of the following steps:

  • Be on call  to respond to a mortgage servicing outage
  • Quickly assess the  database, processes, and documentation to prepare a response plan
  • Transfer the portfolio on to ServiceMac system following all regulatory procedures
  • Commence loan servicing  for the transferred portfolio
  • Mirror services provided to run the system in tandem with existing servicer
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If you click "Yes" below, you will be directed to another website. A new tab or window will be opened. Before you click "Yes", we want you to know that the site owner of that website is responsible for what is on their website. Also, their privacy policies, cookies and level of security may be different than ours, so please review their policies and other disclosures.