How to board a newly purchases performing 1st?

[Chris Bingham]

After buying a Performing 1st from an online site, what is the next step? Boarding it w/ a servicer? How is that done? Does the seller overnight me the loan docs and I'm then responsible for setting up an acct w/ a servicer, handing them the loan docs to board the loan and making sure they start collecting the mortgage payments? What process do you go through once you have agreed to buy a note from the seller? Trying to understand the next steps so that I don't waste a sellers time while trying to get my feet under me as a new note investor.