Senior loan not escrowed at origination for taxes and insurance

[Micah A.]

I recently purchased a performing senior lien. While the audit was being performed by my servicing company they found that the loan was not escrowed for taxes and insurance at origination. They went on to inform me that because the loan is considered an "HPML" (high priced mortgage loan) and was not escrowed for at least 5 years it violated the terms of service agreement and they could no longer service it. They've given me a short amount of time to either transfer the servicing to my LLC or find another servicing company that can assist me.

I’d be lying if I said “I’m not worried”.

I've spent a lot of time trying to research my options but all I could find were mortgage servicing companies that deal with hedge funds and REIT's.

I am not sure what my options are or where to go from here any help or insight would be greatly appreciated.