Lets hear what Note Servicers other Note Investors use.

Tax Liens & Mortgage Notes
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Lets hear what Note Servicers other Note Investors use.

David Putz
Investor · Jackson, NJ · Member since 2010 · 167 posts · 55 votes

We know of a bunch of the servicers but curious of others have servicers they prefer. We have a ongoing list of each along with their fees and what state they are licensed to collect debt in.

AHP Servicing LLC

Allied Servicing

Angel Oak

Evergreen Note Servicing

Fay Servicing LLC

FCI Lender Services

Land Home Financial

Madison Management Services, LLC National Asset Mortgage, LLC

Note Servicing Center

Home Key Servicing

MIG

Superior Loan Serviceing

Allied Servicing Corporation

United Home Loan Services Inc. (DBA Carolina Choice Mortgage)

Allied Servicing Company

AHP Servicing

August REI

Moat Note Servicing

Prime Loan Servicing

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Jamie Bateman
Investor · Baltimore County, MD · Member since 2014 · 466 posts · 439 votes
4y

For full disclosure, I will say that I am a partner in a brand new loan servicing company that just opened its doors. Other than that one, FCI is actually my favorite--and I have used 5 over the last few years. 

FCI is big (160 employees) and their portal may seem like overkill, but they have their systems down and they are responsive. They are very thorough in loan boarding, which can be a pain, but that is actually a good thing. Yes, they do nickel and dime some but the are competent and communicative. Just by having those two traits they are in the top 25%, based on my experience. 

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  • Dan DeppenBusiness Member
    Erie, CO · Member since 2017 · 274 posts · 267 votes
    5y

    You can add Main Street to the list.

    0Reply
  • Jamie Bateman
    Investor · Baltimore County, MD · Member since 2014 · 466 posts · 439 votes
    5y

    Currently using FCI, Allied, and Madison. We were using a 4th (not on your list) but I cannot recommend them. 

    1Reply
  • David Putz
    OP
    Investor · Jackson, NJ · Member since 2010 · 167 posts · 55 votes
    5y

    @Jamie Bateman Yup we have all them on our Resource and Fee spreadsheet.  

    0Reply
  • Chad U.
    Investor · Boca Raton, FL · Member since 2012 · 1k+ posts · 1k+ votes
    5y

    I think you missed SN servicing 

    0Reply
  • David Putz
    OP
    Investor · Jackson, NJ · Member since 2010 · 167 posts · 55 votes
    5y

    @Chad U. Yes you are correct. I think they are on my full spreadsheet.

    0Reply
  • Chris SeveneyBusiness Member
    Moderator
    Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
    5y

    Using Allied and Madison. When using more than 2 it adds a lot to my processes and have found the difference between these companies is very slim and is based on who you get from those companies, so I have stuck with these two (for now)

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    0Reply
  • Alecia Bolton
    Investor · Seatac, WA · Member since 2017 · 134 posts · 121 votes
    5y

    I'm using Allied and REPS/NAM. Allied has performing and partials, REPS has NPN, PN, and LSOP. I prefer REPS UI interface, but like Allied's fees. ($20 vs $45 for a PN)

    0Reply
  • David Putz
    OP
    Investor · Jackson, NJ · Member since 2010 · 167 posts · 55 votes
    5y

    @Alecia Bolton yes just be careful as allied is only licensed in a few states.

    0Reply
  • Alecia Bolton
    Investor · Seatac, WA · Member since 2017 · 134 posts · 121 votes
    5y

    @David Putz I wonder if someone is maintaining a list of where all the servicers are licensed...I can't imagine that would be easy to keep track of, but I don't know how often they would change.

    Having a resource that has all the typical fee info and service states for each servicer in one document would be amazing.

    0Reply
  • David Putz
    OP
    Investor · Jackson, NJ · Member since 2010 · 167 posts · 55 votes
    5y

    @Alecia Bolton yes we do. I will tag you on the post.

    0Reply
  • Tracy Z. Rewey
    Investor · Orlando, FL · Member since 2013 · 837 posts · 316 votes
    5y

    @David Putz  Great list and have used several on the list over the years.  I've also used some more obscure companies in the seller financing world like Pioneer Title in Idaho (they call in Long Term Escrow Servicing) and Security Escrow in NM (recently purchased by Sunwest Escrow).

    0Reply
  • Ken P.
    Member since 2021 · 2 posts · 3 votes
    4y

    This sounds like a task.  I've been investing in real estate but am new to private lending.  I've been researching servicers and building data on a very small list. I do have one (Del Toro Loan Servicing) that is not on your list.  So far, I've rated Evergreen and FCI lowest based on a number of reviews on different platforms that have consistent negative reviews mentioning certain specific issues that I find concerning (this is after accounting for the inevitable disgruntled customer/borrower who gets unjustifiably upset).

    Are you able to share any of your information?  Particularly the state licensing portion?

    0Reply
  • Jamie Bateman
    Investor · Baltimore County, MD · Member since 2014 · 466 posts · 439 votes
    4y

    @Ken P. you can check state licensing here: https://nmlsconsumeraccess.org...

    1Reply
  • Andy Mirza
    Lender · Ladera Ranch, CA · Member since 2014 · 1k+ posts · 1k+ votes
    4y

    @Ken P. I'd stay away from Del Toro for non performing notes, especially. They didn't seem to have a clue on how to deal with a foreclosure. Plus, other routine tasks like transferring loans and providing payoffs were way more difficult with them than it should have been.

    0Reply
  • Chris SeveneyBusiness Member
    Moderator
    Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
    4y
    Curious as to why you do not like FCI or Evergreen. I have heard a lot of complaints about evergreen from other people lately. FCI only comments I have heard is they nickel and dime you to death. I have never used them so I cannot comment as I quit trying after it took months for them to board a loan so I gave up

    Originally posted by @Ken P.:

    This sounds like a task.  I've been investing in real estate but am new to private lending.  I've been researching servicers and building data on a very small list. I do have one (Del Toro Loan Servicing) that is not on your list.  So far, I've rated Evergreen and FCI lowest based on a number of reviews on different platforms that have consistent negative reviews mentioning certain specific issues that I find concerning (this is after accounting for the inevitable disgruntled customer/borrower who gets unjustifiably upset).

    Are you able to share any of your information?  Particularly the state licensing portion?

    7e investments53 Reviews
    WebsiteView Page
    0Reply
  • Jamie Bateman
    Investor · Baltimore County, MD · Member since 2014 · 466 posts · 439 votes
    4y

    For full disclosure, I will say that I am a partner in a brand new loan servicing company that just opened its doors. Other than that one, FCI is actually my favorite--and I have used 5 over the last few years. 

    FCI is big (160 employees) and their portal may seem like overkill, but they have their systems down and they are responsive. They are very thorough in loan boarding, which can be a pain, but that is actually a good thing. Yes, they do nickel and dime some but the are competent and communicative. Just by having those two traits they are in the top 25%, based on my experience. 

    2Reply
  • Denise Brown-PuryearPro Member
    Rental Property Investor · Julian, NC · Member since 2016 · 76 posts · 100 votes
    3y
    Quote from @Jamie Bateman:

    For full disclosure, I will say that I am a partner in a brand new loan servicing company that just opened its doors. Other than that one, FCI is actually my favorite--and I have used 5 over the last few years. 

    FCI is big (160 employees) and their portal may seem like overkill, but they have their systems down and they are responsive. They are very thorough in loan boarding, which can be a pain, but that is actually a good thing. Yes, they do nickel and dime some but the are competent and communicative. Just by having those two traits they are in the top 25%, based on my experience. 

    I'm currently researching loan/note servicers as I am transitioning several THs'.  Are there any others that you can currently recommend that I can research.  Thanks!
    0Reply
  • Jamie Bateman
    Investor · Baltimore County, MD · Member since 2014 · 466 posts · 439 votes
    3y

    @Denise Brown-Puryear I am biased as I co-own BIFI Loan Servicing. What state will your loans be in? I use BIFI, FCI, and Madison Management. 

    0Reply
  • Denise Brown-PuryearPro Member
    Rental Property Investor · Julian, NC · Member since 2016 · 76 posts · 100 votes
    3y

    North Carolina

    0Reply
  • Chris SeveneyBusiness Member
    Moderator
    Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
    3y

    @Denise Brown-Puryear

    Madison is who we use for NC

    7e investments53 Reviews
    WebsiteView Page
    0Reply
  • Kevin Crowell
    Real Estate Professional · Mansfield, MA · Member since 2012 · 74 posts · 28 votes
    3y

    I am currently using FCI, Allied and BIFI

    0Reply
  • Lelith Walker
    Investor · New York City, NY · Member since 2013 · 263 posts · 141 votes
    3y

    I use Reps and Maison

    0Reply
  • Denise Brown-PuryearPro Member
    Rental Property Investor · Julian, NC · Member since 2016 · 76 posts · 100 votes
    3y
    Quote from @Jamie Bateman:

    @Denise Brown-Puryear I am biased as I co-own BIFI Loan Servicing. What state will your loans be in? I use BIFI, FCI, and Madison Management. 


     North Carolina.

    0Reply
  • Denise Brown-PuryearPro Member
    Rental Property Investor · Julian, NC · Member since 2016 · 76 posts · 100 votes
    3y
    Quote from @Chris Seveney:

    @Denise Brown-Puryear

    Madison is who we use for NC


     Thanks.  Will look them up.  I'm just beginning to make the transition from Landlord to Note Holder.  This is my pre-retirement preparation.

    0Reply
  • Denise Brown-PuryearPro Member
    Rental Property Investor · Julian, NC · Member since 2016 · 76 posts · 100 votes
    3y
    Quote from @Jamie Bateman:

    For full disclosure, I will say that I am a partner in a brand new loan servicing company that just opened its doors. Other than that one, FCI is actually my favorite--and I have used 5 over the last few years. 

    FCI is big (160 employees) and their portal may seem like overkill, but they have their systems down and they are responsive. They are very thorough in loan boarding, which can be a pain, but that is actually a good thing. Yes, they do nickel and dime some but the are competent and communicative. Just by having those two traits they are in the top 25%, based on my experience. 


    I've looked at a few of the sites and will reach out to them.  FCI is on my top 3 list.  Competency and Communication are key for me as well as No Hidden Fees....  Again, thanks for the feedback!

    0Reply
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