Private Loan Servicing Tools and Services

[Robert Whitelaw]

Howdy Folks,

I want to create options for my sellers moving forward to help ease them into the possibility of providing private seller financing for buyers.

I have come up with a list of 3rd party loan servicing businesses, but I also want to provide a software option where the seller can more directly manage the loan.

First, let me share the list of 3rd party servicers (please let me know if an awesome player in this space is omitted):

Evergreen Note Servicing | Note Servicing Made Simple

FCI Loan Servicing - Loan Servicing Programs for Lenders of any size.

Loan Servicing - Weststar Mortgage

NoteSmith Home

Mortgage & Note Servicing - Note Servicing Center

Welcome to Statebridge - Statebridge Company

Login - AlliedServicing Corporation

I really have not found any good software solutions that would fit well with a seller who may have just one private loan to manage. They all seem geared toward the professional that needs the entire process from creation to closing managed by the software. Does anyone have a suggestion for a more seller friendly tool?

For those that love their spreadsheets, I do not want to lean into that. I want to suggest options that give my clients at least a minimum of 'error checking' and that will automate the regulatory requirements for their state. My plan A for my folks will always be to hire a 3rd party, but having done this for a very long time, I know I will come across those that want to be at least a little more hands on and I want them to have an option.

Thanks in advance for any suggestions.

Cheers,

Robert