I am doing seller financing on a property I own and my attorney recommended Allied Servicing Corporation out of Spokane Valley, WA. Is anyone familiar with their services or have used their loan servicing before. In watching the video they seem to small?
I am using Allied for some of my notes. They don't have a web portal, so if you have to go look for a particular expense, you would have to call them.
Madison Management on the other hand is also a servicing company that you can board your notes with. Talk to Shante Duffy over there.
@Pari Thiagasundaram what have your overall experience been with Alliied: good, fair, or indifferent? Are they pretty responsive since there is no web portal? Are the servicing fees competitive? Finally, do you have escrow accounts with your notes for taxes and insurance?
Thanks in advance
Make sure they are licensed in the state where your loan is located.
@Bob Malecki thanks I did confirm that, my attorney referred them because they service a loan for another client of his. I am comparing them to FCI at the moment
Hi @Marcus Maloney let us know your comparison/findings. I've been using FCI now for the past 5 years and find them to be very reasonably priced with great service and communications. Just heard a podcast interview with Dave Van Horn and he said PPR has been using FCI as well.
Yeah I would recommend FCI as well for performing notes. Their portal is great.
@Marcus Maloney Nice to see another resident of the QC on BP. I use allied and have been happy with them, they handle escrows with no problem and their servicing fees are very competitive, especially for NP loans. While they do not have a portal they are very responsive on the phone. My experience has been that the companies (NAA) that do have a portal tend to try and push everything to the portal, making it hard to talk to a person.
Hi @Marcus Maloney , did you ever get servicing started with Allied. What are your thoughts on them now?
As an FYI they are adding a web portal now. I have found their fees to be the most reasonable and they do handle escrow. As an FYI you can escrow HOA dues if you list it in your loan and they can handle that too.
I can also say that i have NOT had a good experience with NAA.
I have heard some good things with Allied thought I do not use them. I use madison and they have been great. If it is a contract for deed also check out evergreen. they service performing CFD's and are very reasonably priced as well.
Thanks Bob and Chris
@Mark Elmore I am using FCI and they are working well for me
@Marcus Maloney Allied services some of the notes on the listing platform (along with FCI, NAA, SN Servicing, Madison, August REI, and others). I've also used Allied personally for servicing notes with partial sales. They are smaller but that goes into the plus column in my book. You can actually call someone and get assistance. It also makes them great for specialty deals like servicing partials, wraps, or deals with multiple investors. I worked with the owners Melissa Bolling and Sheila White over 20+ years ago at an insurance company that bought notes so they have been in the servicing biz a long time. As @Bob E. mentioned they now have a web portal.
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