Backup Loan Servicing

Firstmark Services is an investment-grade rated servicer, providing evidence that risk will be effectively managed over the life of the serviced assets. With our proven experience, financial strength, servicing expertise, and scale, you can be sure that we will be there when you need us.

We work closely with you from the start. We perform a thorough review of your business, including your program guidelines, credit agreements, and more. Our in-depth evaluation allows us to determine gaps, estimate timelines, and ensure that we are the best possible fit as your backup servicer.

Our approach:

To set up your program, we:

  • Give you servicing guidelines, letters, and reports
  • Provide standard file layout and data dictionary
  • Create a loan-program questionnaire using program guidelines and credit agreements
  • Obtain questionnaire approval
  • Set up your program in our platform
  • Have you map to our standard file layout
  • Run mock conversions off files you provide
  • Validate data during mock conversions
  • Train and prepare staff on the program

Once a triggering event occurs, we will:

  • Receive your conversion file
  • Begin the conversion process
  • Set up letters and reports