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Wraparound Loan Servicing In Texas

Professional Servicing for Wraparound Real Estate Transactions

We provide professional loan servicing support for qualifying wraparound owner-financing transactions in Texas.  If you are a seller/investor carrying a wraparound note and need assistance administering borrower payments, seller/lender distributions, payments associated with an underlying mortgage, and the provision of annual tax forms,  our servicing program can help simplify the ongoing administration of the transaction.  Our goal is to provide consistent payment processing, organized servicing records, borrower statements, and administrative support according to the applicable loan servicing agreement.

Have a loan or promissory note for a wrap around owner finance transaction that needs loan servicing?

Call me at (210) 788-1034 or email me at aaron@samsonestop.com to discuss your loan servicing needs.

What Does Loan Servicing For Wraparound Transactions Consist Of?

Wraparound transactions can require additional payment administration because the seller-financed obligation may exist alongside an underlying mortgage.  Our wraparound servicing support is designed to help manage the payment flow between the borrower, seller/lender, and applicable underlying mortgage according to the servicing agreement.

Loan Servicing For Wrap Around Owner Finance Transactions Includes:

  • Collecting borrower payments
  • Disbursing funds to the seller/lender
  • Processing payments toward the underlying mortgage
  • Providing borrower statements
  • Maintaining payment records
  • Tracking delinquencies
  • Processing authorized additional disbursements
  • Providing applicable tax reporting
  • Processing payoff requests

 

Why Use a Professional Loan Servicer?

When you finance a property yourself or use a creative-financing strategy, you may not want to spend every month manually tracking payments, preparing statements, calculating distributions, and coordinating payment records.  Professional servicing can help provide:

Consistent Payment Administration

Payments can be collected and distributed according to the applicable servicing agreement.

Organized Records

Maintain an organized record of payment activity and servicing information.

Borrower Communication

Provide borrowers with appropriate statements and payment information.

Less Administrative Work

Spend less time managing recurring payment-related tasks and more time focusing on your real estate business.

Transparent Pricing

Our servicing fees are published so you can understand the basic cost structure before getting started.

How Our Loan Servicing Process Works

1. Choose Your Servicing Type

Determine whether your transaction requires subject-to, non-wrap seller-financing, or wraparound servicing.

2. Complete the Onboarding

Complete the appropriate online onboarding process and provide the required transaction and servicing documents.

3. We Review the Servicing File

We review the information and documentation necessary to establish the servicing account.

4. Your Servicing Account Is Established

Once the required documentation and applicable setup fee have been received, the servicing account can be established.

5. Servicing Begins

Payments are processed and disbursed according to the applicable servicing agreement and instructions.

6. Ongoing Servicing Support

We maintain applicable payment records and provide servicing-related support throughout the life of the servicing relationship.

Wrap Around Loan Servicing Onboarding Documents

WRAP AROUND LOAN SERVICING ONBOARDING FORMS (Click The Links Below To Download Forms)

 

OWNER FINANCING SERVICING SUPPORTING DOCUMENTS TO BE PROVIDED:
  • One To Four Contract/Purchase Agreement (to include all amendments)
  • Seller Finance Addendum
  • HUD-1 Settlement Statement
  • Promissory Note
  • Deed of Trust
  • Copy of Current Insurance Policy
  • Copy of First Payment Letter Containing Mortgage Payment Breakdown to Borrower
  • Copy of Current Underlying Mortgage Statement (For Wrap Around Closing Transactions)

 

WRAP AROUND MORTGAGE LOAN SERVICING FEES:

  • Loan Onboarding Setup fee: $250.00 (one-time fee)
  • Monthly servicing fee (collecting from borrower and disbursing to seller): $25.00/Month
    • Servicer shall make the payments to the underlying mortgage for an additional $25 per month
      Any additional disbursements will be charged @ $15/per disbursement
  • Late Charges Received: Split 50/50 Between Seller/Lender and Servicer
  • ACH electronic payment processing for drafting of payment = $20/payment

 

Other Fees

  • Payoff Quote Generation:  $75.00 (for each payoff quote generated)
  • Verification of Payment History:  $50
  • Returned Payment Fee:  $35
  • Release of Lien Drafting and Filing:  $150
  • Calculation of Initial Monthly Payment Amount:  $150
  • All other support services requested outside the scope of this agreement:  $75/Hr

 

Note (1):  Servicer shall not be required to make distributions to Seller/Lender until the Buyer/Borrower’s monthly payment has been submitted, and the deposited amount has cleared the Buyer/Borrower’s bank account (no earlier than 3 business days after receipt).

Note (2):  All third party services and expensed to be billed and paid by seller/investor.  This includes any postage fees, attorney fees, courier fees, recording fees, etc.

All applicable documents mentioned above, to include the applicable onboarding set up fee, must be received in order to establish the servicing of your note.  Upon receipt of all required documentation, both the seller/investor and the buyer/borrower will receive a Loan Servicing Introductory Kickoff Email once the account has been established.

Get Loan Servicing For Your Wrap Around Owner Finance Transaction In Texas

Contact us via phone at (210) 788-1034, or via email at aaron@samsonestop.com.  We'd love to speak with you to answer any questions you may have, or to schedule a free consultation to discuss how we can help as a loan servicer for your wraparound owner finance transaction in Texas.

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