OFN Loan Servicing
About OFN Loan Servicing Options
Loan Servicing is an integral part of the owner finance industry today. Our role is to collect a buyer’s monthly payment, distribute funds to any underlying lender first then to the seller; handle tax and insurance escrow, if any, and send out late notices.
We act as a fraud preventer by ensuring that any underlying mortgage payment paid first before the seller receives any money. Loan Servicers are rapidly becoming a mainstay in the owner finance industry and they also help to normalize the transaction for the buyers
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In this video, Scott and Sohail discuss loan servicing and how it really works. Watch the video to chronologically what you can expect when using a loan servicer in your owner finance transactions!
In this video, Scott Horne discusses what you need to be aware of as a lender and a borrower when dealing with foreclosures. Unfortunately, in this industry foreclosures do happen. It is important that we make sure that our borrowers and lenders understand the process
Borrowers, read your documents! Make notes, understand what the documents are saying! Make sure you know the date your payment is due and understand what is due on your payment dates. Time is valuable! Even if you have a grace period, stay on top of