Midwest Loan Services offers home loan in private label that is subservicing the community banks in the United States. It was found in 1992, the company provides customer service approach in the unique way. Besides, they also come with high technologies for the industry so that they can assist banks to retain the borrowers, reducing the costs as well as ensure the operational and also regulatory compliance. There are many benefits that can be gotten by the members of the company, find them below.
The Benefits for the Members
- The company negotiates prices that are always competitive. Besides, they are expert in the industry so that the members can learn about a better servicing in house.
- The risk of the regulatory compliance as well as the potential penalties of the financial will be reduced.
- The oversight tools that can be gotten online make simple the compliance with CFPB requirements and regulatory without any additional cost that should be paid.
- The borrowers will experience the flawless service including the technologies that are based on the web and custom branded phone when they use the standout platform of Midwest Loan Services.
- The members will realize the efficiencies by using the process customization as well as the technology integration with the system of the banks.
- The Midwest Loan Services convenient service will improve the customer loyalty in high levels and differ the member’s bank from the competitors, because the system is personable.
- The members can get the innovative technologies that even don’t be offered by the providers of largest subservicing.
- Increase the efficiencies of the cost that are lower than the servicing home loan cost in house.
- The borrowers can access the data, files, records, written communication and the conversation in 24 hour basis.
- The program is suitable with the way of how you work, not requiring your bank model to be suitable with the process.
- The members can be sure completely that the Midwest Loan Services will not do crossing sell of the members’ customers.
The Products of Midwest Loan Services
The subservicing of the Midwest is involving much more than taking the mortgage payments only. In about the subservicing of the home loan, this company has the leading technology to work with. Besides, they also provide services in the complete suite so they can meet all of the banks’ needs as well as the needs of the home loan borrowers. The products of the company are including;
- The mitigation of collection and loss with the full compliance of CFPB and GSE.
- The home loan subservicing with private label that could be accessed in 24/7 basis.
- Much better procedural and regulatory compliance for the using of online oversight tools.
- The management of Escrow
- The reporting the compliance from the company
- Bills that are sent every month
- The operations of the call center
- The traditional origination systems as well as the internet integration
- The fulfillment of processing, underwriting, documents, funding and also closing.
The Highlights of Midwest Loan Services
The base of Midwest is in Houghton, Michigan. It is a subordinate of Ann Arbor-based University Bank. The company was established in 1890, the University Bank is very proud for being nominated by the American Banker as the Community Bankers of the Year. Besides, they are also proud of being the wholly owned subordinate of the University Bancorp, Inc. that becomes one of the OTCQB Stock Exchange members under the UNIB symbol. That is why the members of the company can be sure and peace of mind for being listed in the company. They can get so many benefits as well as be sure for the professionalism of the Midwest Loan Services.