ServiSolutions offers residential mortgage servicing for financial institutions.
Consolidations in the banking industry in late 2004 threatened to move the servicing of AHFA home loans to offices outside Alabama. AHFA’s Board of Directors saw an opportunity to create an avenue with which to serve the state’s homebuyers and ensure their mortgage servicing stayed within the state, while also preserving jobs for Alabama citizens.That avenue was AHFA’s servicing department, now known as ServiSolutions. On March 1, 2005, ServiSolutions opened with 12,000 loans worth $750 million. Currently, in addition to the loans funded by AHFA, ServiSolutions services loans for housing finance agencies in Arkansas, Mississippi, Missouri, and North Carolina as well as community banks in Alabama.
We service many different types of mortgages including FHA, VA, Rural Development, conventional uninsured and conventional insured loans. In addition, ServiSolutions services second mortgages, fully amortizing as well as deferred.
ServiSolutions is a division of the Alabama Housing Finance Authority.