which loan servicer, no longer like TrustFCI.com

[Curt Smith]

I do a few owner financed sales a year to owner occupants dodd frank compliantly which means re servicing requirements under DF, if you escrow taxes and insurance DF requires you to use a loan servicer.  My view is you are crazy to service yourself just from the IRS tax reporting and tracking late fee issues and how much principal vs interest was really paid each year.  

Last year I was recommending TrustFCI.com for servicing. $30/mo (paid by the borrower if you get this fee onto the closing HUD) if you escrow.

What has recently made me go ballistic, vein popping mad at FCI is:

- They can not and do not email you when the borrower is late.

- They can not and do not automatically send a NOD when late is beyond the late number of days in your specific note.

- Their website is indecipherable for how many days late they are or the total arrears cash total they are in arears.  I have to call customer support and have them find the hidden numbers.

- I asked for initiating forclosure "person" to call me, no call.  They obviously don't take this area of their business seriously.

- The borrower says their monthly statement is un-intelliable as well.  I can believe it from the lender web site.

What I'm looking for and will not settle for less is:

- To be emailed 1 day after a payment is late.

- to be emailed when NOD is automatically sent.

- That the above emails and standard monthly accounting emails are easy to read the total in arears an how many days late the loan is.  Not just how late the current month is late.  IE when you have skipped months, total days late is the accumulation of past skipped months plus how late (or not) the current month is.

Any referals of servicers?  I'm ok with $30/mo and my calling around finds servicing fees to be higher than FCI's and I may suck it up and pay more.   I definitely what simple things that would be free if someone sensible built their MIS/automation system.