Services LinKs

Loan Servicing

Currently, The Alison Company servicing portfolio consists of approximately 500 loans, with a dozen servicing lenders, totaling approximately $1.1 billion.

Generally, when acting as a servicing correspondent, The Alison Company services each loan according to the terms of the lender’s Servicing Agreement, and the Note and Deed of Trust.

Specifically, our duties involve a multitude of functions including:

  • Payments, Accounting, Deposits and Records.
  • Impounds - as servicer we determine the amount of monthly escrow deposits to be made by the mortgagor, who is provided with an annual statement of the escrow amount, detailing all deposits, interest earned (if applicable), and all withdrawals.
  • Inspection Reports – Properties are normally inspected on an annual basis or as required by lender. Reports include condition of property, surrounding area, change in occupancy, current rent roll and photos of property if required by lender. Most lenders require in-depth analysis of income and expense figures for the previous year.
  • UCC-1 Statements – we monitor the filing and renewal of UCC-1 statements.
  • End of Year Statements – IRS 1098 forms are sent annually to each mortgagor.
  • Payoff Procedures – as servicer we handle routine reconveyances.
  • Insurance Policies – we ensure the hazard, flood, liability and the rent insurance coverages, that are required at closing of the loan, are maintained.