Process

Comprehensive Capabilities, Efficient Operations

Contract Loan Servicing from CRF covers a full spectrum of activities and frees your internal resources to concentrate on technical assistance to borrowers, community relations, or other initiatives central to your mission.

There’s no need to purchase expensive software, struggle with unwieldy spreadsheets, worry about reporting and compliance, or devote your staff to paperwork.

Contact us:

Gary Holmquist, 952-922-5801

Kevin Riba, 612-305-2059

E-mail

CRF employs a dedicated servicing staff with more than 70 years cumulative experience in both nonprofit and for-profit settings. All clients benefit from CRF’s usage of Harlan Interlinq MortgageWare software, a robust platform specifically designed to handle the requirements of loan servicing operations, including loan originations, transactions, and reporting for deferred, amortizing and many other loan types.

Key Activities

CRF handles all administrative, compliance and reporting activities involved with loan servicing.

Monthly Accounting & Reconciliation

Mail monthly statements or coupons
Post payments received
Deposit payments
Reconcile accounts
Set up new loans
Verify loan conditions

Collections

Monitor and mitigate losses
Make collection calls
Send past-due notices
Escalate collections
Negotiate workouts

Reporting & Communications

Generate monthly portfolio reports
Issue delinquency reports
Issue reports to board and stakeholders
Generate updates for internal meetings and presentations
Meet ad hoc or specialized reporting requirements

Compliance

Enforce property insurance requirements
Collect and disburse property tax payments
File updates with credit bureaus
File Uniform Commercial Code updates
Comply with annual IRS reporting requirements
Secure annual financial updates from borrowers

Licensing

Maintain required licensing
Adhere to federal and state regulations
Maintain errors and omissions, and fidelity bond insurance policies

Systems

Host all required infrastructure and systems
Manage technical support and system maintenance
Handle data storage and system backups

Contact us to discover how CRF Contract Loan Servicing can help:

Gary Holmquist, 952-922-5801 • Kevin Riba, 612-305-2059 • E-mail

Credentials & Licensing: CRF holds the following certifications:
Approved Fannie Mae servicer • Rated AA in Impact Performance by the CDFI Assessment & Rating System (CARS)
Standard and Poor’s rated servicer
Licensed by the Department of Corporations under the California Residential Mortgage Lending Act and the California Finance Lenders Law
Licensed by the State of Minnesota • Adherence to Real Estate Settlement Procedures Act (RESPA) disclosure guidelines