Loan Servicing

Specialty in Junior Liens

We have extensive experience in working junior liens, helping you manage your risk and working with your borrowers.

Performing Loan Servicing

We can handle your performing loan portfolio at a fixed cost per loan, so you’ll know your monthly and yearly budget by the number of loans we are servicing.

Wrap Loan Servicing

We can handle your performing wrap loan portfolio at a fixed cost per loan, so you’ll know your monthly and yearly budget by the number of loans we are servicing.

Escrow Services

We can handle escrow services for your loans by collecting the monthly impounds to pay taxes and insurance on behalf of the borrower.

Non-Performing Loan Servicing

We can handle your non-performing loans, making out-bound collection calls, mailing demand letters, home owner option letters per investor guidelines, hiring door knockers and occupancy inspection services at a fixed cost per loan.

Full Service Loss Mitigation

Our borrower intervention program includes skip-tracing, outbound calls by a real person, express, priority & certified mailings and a “Boots on the Ground” strategy to get the borrower to work with us on developing a win-win plan with the borrower and investor.

Foreclosure Management

We have built relationships with foreclosure attorneys nationwide whom we have vetted for value, expediency and excellence.

REO Management

We have relationships with property managers and property management resources across the country if needed.

Web Portal to view your loan activity

View your loans on the Atlantic Pearl portal and see up to the minute information on your loans.  Payment History, Servicing notes, Loan balance, last payment date, next due date, loan status, payoff information all at no additional cost.

 via email  support@atlanticpearlmortgage.com to speak to us about your servicing needs.

Loan Servicing Descriptions

Atlantic Pearl Mortgages will not service the following types of loans: NEGATIVE AMORTIZATION, DAILY SIMPLE INTEREST Loans (interest accrual method from date received to date received), or any Notes that charge INTEREST ON INTEREST Or INTEREST ON LATE FEES.

*A complete Loan Servicing Setup must be received to start servicing.

*The Setup Fee is due at the time of Setup, with all documents/information, and is non-refundable.
*Missing documents/information requested by Atlantic Pearl Mortgages must be provided within 30 days from initial Boarding or the loan will be deboarded.

*Loans can be prelim Boarded with copies of UNRECORDED documents, but copies of required RECORDED documents (Deed, Mortgage, Assignments, etc.) must be provided within 60 days or the loan will be deboarded.

** Residential Loans over $500k in UPB or Commercial Loans, call for pricing.

Performing Loan Servicing      $25.00/ Month

Any Loan that is current, one or two months delinquent, according to its original or modified terms

Under Performing Loan Servicing, the RESPA Hello package is sent out to the borrower at the time of boarding. Each loan is assigned to an agent who will monitor and make sure that the borrower continues to make their payments on time. The agent will make contact with the borrower to remind them of when the payment is due, and will also set them up on ACH Payments if so desired.  Monthly statements are sent out to the borrower 15 days before the due date.  Borrowers who missed payments for  two (2) consecutive months, will automatically get switched to Non-Performing.

Wrap Loan Servicing      $45.00/ Month

Like Performing Loan Servicing, Atlantic Pearl will collect payments from your borrower and disburse payments to your underlying mortgage.  Note Holder will provide servicer with a copy of current mortgage statement for underlying mortgage. Payments to the underlying mortgage will be made by servicer via check.  Please allow at least 60 days to setup payment.

*See Wrap Loan Servicing tab for additional information

Non-Performing Loan Servicing        $95.00/ Month

Any Loan that has missed the 3rd consecutive month, or more.

Under Non-Performing Loan Servicing, the RESPA Hello package is sent out to the borrower of the delinquent loan at the time of boarding. Each loan is assigned to an agent who will work with the borrower at the direction of the Lender to turn the delinquent loan into a performing loan, by restructuring the loan or by foreclosing. Monthly statements are sent out to the borrower 15 days before the due date. Late notices are sent to the borrower at 15 days, 31 days, and 45 days delinquent.  After the loan has been restructured and the borrower has made payments for three (3) consecutive months, the loan will automatically be switched to the Performing Loan Servicing Program.

No Collections Loan Servicing        $45.00/ Month

North Carolina Excluded

Loss mitigation performed by client or Third-party service

Under No-Collections Loan Servicing, the RESPA Hello package is sent out to the borrower at the time of boarding with correspondence address to client or third party and payment address to Atlantic Pearl. Monthly statements are sent out to the borrower 15 days before the due date. Borrower will be directed to contact client or third-party service for loss mitigation, payment arrangements, or other questions about their loan. Atlantic Pearl will provide basic loan information known at the time, such as unpaid balance, next due date, lender name and contact information.

Performing Loan Servicing Fees

Performing loans secured by a borrower’s primary residence that become 25 days delinquent will be subject to an additional $20 per month charge for 2 months to fulfill Dodd-Frank requirements.
Optional Escrow Processing:  When a borrower’s monthly payment on a performing first mortgage includes amounts for property taxes, home owners insurance and/or HOA fees, MMS will collect those funds into a separate account and disburse the funds to the appropriate party when they become due.  The fee is $10 per loan per month and will be added to the monthly servicing fee.

* Fees subject to change

Wrap Loan Servicing Fees

* Fees subject to change

Full Collection Servicing fees

Default loan servicing with full collections works to turn your non-performing assets into performing assets through loan modifications, forbearance payment plans, facilitating the foreclosure process or obtaining a deed from the borrower. Our staff is trained in collections, workouts, foreclosure, skip tracing and working with third parties to help you maximize your investment.

Optional Escrow Processing:  When a borrower’s monthly payment on a performing first mortgage includes amounts for property taxes, home owners insurance and/or HOA fees, MMS will collect those funds into a separate account and disburse the funds to the appropriate party when they become due.  The fee is $10 per loan per month and will be added to the monthly servicing fee.

* Fees subject to change

* An administrative fee may apply to certain transactions.

Monthly Loan Servicing fees

Additional Servicing fees

* Simple Loan Modification:  Capitalizing the arrears or forgiving the arrears when restructuring a borrower’s loan with or without a reduction in principal.  This may include a partial capitalization and forgiveness of the arrears.  Example:  capitalize 50% of the arrears and forgive other 50% of arears.

* Complex Loan Modification: Whenever the loan modification is more than just a simple capitalization of the arrears, forgiveness of the arrears or reduction of principal.  This includes adding a balloon payment provision, collection of advances over time at the same or different rates of interest.  Step modifications, where the amortization schedule will change over time, thereby changing the interest rates and monthly payment amounts, assuming the borrower made all the previous payments.  Waiving arrears over time or special provisions for the waiving of arrears in multiple increments depending on the borrower payment history.

Enter text descriptions related to documentation fees or any additional information that may be required.

+ Settlement includes lump sum payoff, graduated payoff, reinstatement amounts

* Fees subject to change