NonPerforming Note Servicing

[Johnathan Norman]

I'm considering making the jump into the notes biz and after reading a few books I noticed some people suggest using your servicing company for all communication with the borrower.  The logic is that servicing companies know all the rules and this will mitigate legal risk. Other books however suggest directly contacting the borrower to work out a solution to get the note performing and then hand over the work to a servicing company. The argument is that the servicing company is unlikely to be as effective and focused on the results of the negotiation as the note owner. 

For those here who have experience in these matters I'd love to hear your thoughts.