Quote from Scott Pollmann on January 23, 2025, 6:50 pmI was trained according to the philosophy that you should always have the protection of a licensed servicer in-between you and the borrower. I fully understand that there are those that self service their notes.
I'm curious as to the strategy and and legal risk for someone that might have just bid up to $200 on a $500 UPB (wasn't me that bid). If the average boarding fee for an NPL is $150 plus a hefty monthly fee, and these aren't recoverable fees, what is the portfolio management for such small assets.
I can imagine that such a loan could achieve a quick payoff if handled correctly.
I was trained according to the philosophy that you should always have the protection of a licensed servicer in-between you and the borrower. I fully understand that there are those that self service their notes.
I'm curious as to the strategy and and legal risk for someone that might have just bid up to $200 on a $500 UPB (wasn't me that bid). If the average boarding fee for an NPL is $150 plus a hefty monthly fee, and these aren't recoverable fees, what is the portfolio management for such small assets.
I can imagine that such a loan could achieve a quick payoff if handled correctly.
Quote from Bill on January 27, 2025, 3:48 pm@chemfun
It's always better to have it boarded with a loan servicer. I understand the expense. It comes down to what you're comfortable with. If you're pursuing legal action, absolutely. If your just working it or sitting on it, I can understand why you may not. Just my thoughts.
It's always better to have it boarded with a loan servicer. I understand the expense. It comes down to what you're comfortable with. If you're pursuing legal action, absolutely. If your just working it or sitting on it, I can understand why you may not. Just my thoughts.