Does the law require me to have a note servicing company?

[Scott Fain]

I'm in the process of purchasing a note in Michigan and the seller of the note says that I'm required to have a note servicing company in order for us to complete the transaction.

I'm looking to service the note myself; I typically buy and sell on land contract but this will be the first existing non performing mortgage note that I buy.

My question is: Does the law require me to have a note servicing company involved?