The Specialists in Private Money Loan Servicing for Lenders and Institutions

Services Included with Every Account

When the principal balance of the account is less than $500,000, the monthly fee is $35, $20 paid by the Lender, and $15 paid by the Borrower.

The following services are included for all of those accounts

Services

Borrower Welcome Letter

Borrower Monthly Statement

Lender Welcome Letter

Lender monthly statement of all accounts

Same day payment posting

Daily disbursement of funds (after payments clear)

Electronic deposit of funds (ACH) into Lender’s account

Payoff demands

Releases and Reconveyances

IRS 1098 and 1099-INT Reporting

Late notices sent to borrowers at 15 and 30 days past due

Borrower inquiry calls handled

Assignments

Notice of maturity

Additional Services Available and Fees for those Services

Document or Service RequestedFee
New Transfer Loan Setup$40 / Loan – Volume Discount Available
Monthly Servicing Fee: Loan Amount $500,000 or Less$20 / Month
Monthly Servicing Fee: Loan Amount of $500,000 or Greater$30 / Month
Monthly Servicing Fee: Specialty Loan Servicing$35 / Month
Transfer Out Fee for Active Service Loans$75 / Loan
Insurance Tracking (New Transferred Loans)$120 / Year
Assignment Preparation and Recording$75 + Recording (varies by recording jurisdiction)
Force Place Insurance Processing Fee$100 / Property
Property Tax TrackingAnnual Fee $120 / Property for the First Year; $100 / Year Each Additional Year(s)
DIL$250
Foreclosure$750 for the First Year; $250 for any Additional Year(s)
Bankruptcy$250
REO ManagementContact our office for pricing

701 E Front Ave • Coeur d'Alene, ID 83814
Phone: (800) 630-9252
Fax: (800) 380-6492
Email: customerservice@lakecityservicing.com

Copyright ©2018 • Lake City Servicing