Investors Frequently Asked Questions (FAQ)
What is loan servicing?
Loan servicing refers to the management of a loan after you have funded the loan, including collecting payments, managing escrow accounts, handling communication with borrowers, monitoring property taxes and insurance, and ensuring that the terms of the loan are met. It is way more than a collection agency, which unfortunately is what some servicing companies have become.
Why should I choose White Hat Servicing to manage my loan?
At White Hat Servicing we prioritize transparency, communication, efficiency, and risk management. Our expert team handles all aspects of loan servicing, from payment collections to detailed reporting, ensuring your investments are well-managed and compliant, tracking borrower’s property insurance and property taxes. We also offer proactive customer service, striving to predict what you want and providing it, therefore bringing you peace of mind and the freedom that comes with passive income.
What types of loans do you service?
White Hat Servicing manages mortgages or “Trust Deeds”, which are secured against real estate. White Hat Servicing is a loan servicing company set up to assist Private Mortgage Lenders in their handling of their California private loans.
How do I know my loan is being properly managed?
White Hat Servicing ensures that detailed, regular reports on your investment status are available, including payment history and proposing handlings to any potential issues. We also offer proactive communication, so you’re always kept updated on any developments. Our team is committed to maintaining the highest level of transparency, and we are available by phone, email or in person, to address any questions or concerns you may have.
What happens if a borrower misses a payment?
If a borrower misses a payment, we follow a structured protocol to address the situation, including sending reminders through various communication avenues, reaching out for clarification, and working with the borrower to resolve any issues. We additionally assess potential risks and provide recommendations to ensure the situation is managed in your best interest.
What are the fees associated with loan servicing?
Our loan servicing fees vary depending on the scope and complexity of the services you require. We are committed to providing transparent pricing with no hidden fees. For a detailed breakdown of our fees, please contact us directly by phone, through our website contact form or in person at our office.
How do you ensure compliance with regulations and legal requirements?
We have a dedicated team that stays up to date with all local, state, and federal regulations related to loan servicing. We ensure all aspects of servicing are fully compliant with applicable laws, including foreclosure and collection processes.
Can I track my loan’s performance online?
Yes! Through our servicing or sub-servicer’s online platform you can access up-to-date information about your loan portfolio, including payment history, outstanding balances, and loan performance. This makes it easy for you to monitor your investments in real time, anytime.
How do you handle loan defaults?
In the event of a loan default, we follow an exact process in accordance with applicable legal procedures and regulations. We first work with the borrower to try and resolve the issue and if necessary, we then take the needed steps to initiate a Notice of Default to protect your investment and if required, will take it through to a full Foreclosure. We keep you informed every step of the way.
How do I get started with White Hat Servicing?
Simple! Contact us to discuss your investment management needs. From there, we’ll guide you through the onboarding process and start managing your loans with the highest level of professionalism and care.
Can you help me with loan modifications or restructurings?
Yes, we offer loan modification and restructuring services if necessary. If a borrower is facing financial difficulty or requests changes to the loan terms, we can help negotiate terms that are mutually beneficial, while protecting your interests. We handle the paperwork and communication with the borrower on your behalf.
How do I contact you for more information or support?
You can reach us through our website contact form, via email, by phone or in person at our office. Our team is always happy to help answer your questions, provide more information, or discuss your loan servicing needs in greater detail.