Our contract collection services provide with complete and comprehensive loan servicing for owner or investor financing, lease to purchase transactions and rent collections. Tailored to your needs, we are able to provide:
Payment coupons Direct deposits Automatic ACH collections from borrower Payoff Statements Assess late fees I.R.S. tax forms 1098 and 1099 Late notices Tax and Insurance Reserves Original document holding Payment History Reports
Property Tax and Insurance Reserve Accounts
Designed for the owner contract and the borrower whose mortgage company does not collect to pay property taxes and/or insurance, Olympic Note Servicing is able to set up a reserve account for borrowers. No more stress about saving enough money to pay those big amounts – spread it out over a year. We’ll determine the amount required for an initial deposit and the monthly amount required for taxes and insurance. Olympic Note Servicing will collect and process the payments from the borrower, notifying all parties when a disbursement is made. We’ll also analysis the reserve account annually to insure the correct amounts are being collected.
Rent Payments and Lease to Own Contracts
Olympic Note Servicing is able to collect and disburse rent payments and payments on lease to own contracts. As an independent 3rd party, we are able to:
Automatic ACH collections from tenant Direct deposit to landlord account Assess late charges Provide notice of non-payment
Homeowner Association Dues Collection
The service is designed to help builders and developers by holding the set up fees and initial deposits collected at closing from sales of new homes and Condominiums until the account is turned over to the Association. Once the Association is established, Olympic Note Servicing is able to provide a detailed account of each amount collected. But our service doesn’t stop there. We are able to service new and established Association accounts by billing and collecting dues.
Escrow Holdbacks, Custom Accounts and Online Services
Have something out of the ordinary? We’ll work with clients to set up a custom account for collection and disbursement of funds. And, as an added convenience, our clients are able to securely log in to their own accounts to check on payments and balances. Please contact our office for more services available or questions.
