Loan Servicing
CUC Mortgage’s Loan Servicing Program allows you to increase contact with your members with little to no effort on your part. Our team maintains escrow accounts, pays taxes and insurance, issues reports as required, collects payments by mail and coordinates EFT payments. We even offer private labeling to achieve a seamless transition for your members.
When your members register with CUC Mortgage’s secure web platform, they can manage their loans and access information such as:
- tax and insurance analysis
- monthly billing statements (if paying by mail)
- payoff statements
- adjustable rate mortgage change notices
- year-end statements
Members can also update their personal information, correspond with CUC Mortgage and arrange one-time or recurring ACH drafts for their monthly mortgage payments. They’ll also receive email messages when new notices or statements are available for viewing.
By providing an outlet for more regular, effective communication, our loan servicing also benefits you. Our private label service allows your name and logo to be placed on all communications, enabling you to increase brand awareness and build member loyalty. It’s just one more way CUC Mortgage helps you customize your mortgage program.
Other Services:
Monthly Reports: CUC Mortgage provides credit unions with monthly portfolio reports including the following:
- remittance summary report
- remittance detail report
- prepaid detail report
- trial balance report
- delinquent detail report
- new loans serviced report
- paid-in-full report
Collections: CUC Mortgage manages all aspects of the collections process, including phone and written contact with delinquent members, supervision of foreclosure proceedings, bankruptcy notification and credit bureau reporting.
Escrowed Mortgage Loans: CUC Mortgage monitors payment of real estate taxes and homeowner and flood insurance.
Lien Release: CUC Mortgage offers preparation of mortgage satisfactions.