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Looking for a Note Servicing Agent? Buyer Beware!

January 17 2022 | Note Servicing

Like most things in life you get what you pay for when you engage a company to service your note. Beware of low set up and monthly fees, as this is most often not your wisest or best choice for a servicing agent. Nobody works for free and as the old adage goes, ”There is no free lunch”.

Many servicers with low set up and servicing fees charge on a per item basis for virtually all additional services and reports, including account histories, payoffs, 1098 & 1099 reporting, copies, consultation with a live person, issuing checks, and myriad other items. Escrow Services’ one time set up fee and monthly servicing fees cover all the aforementioned items and more. Our philosophy is to charge a fair price to act as escrow agent and not nickel and dime our customers for additional fees. The more time we spend billing additional fees the less time we have to spend on our business which is servicing our customers. We believe this is the right way to conduct business and our customers agree.

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