What states can BankServ service?
ServiSolutions’ BankServ product is available to eligible Alabama banks.
How are loans boarded to ServiSolutions?
Through our Lender Online secure website at https://lenders.ahfa.com/Bin/Display.exe/ShowSection. Access is granted upon execution of the Servicing Agreement, and webinar training is provided.
What original loan documents should be submitted to ServiSolutions by the community bank?
No original documents should be submitted to ServiSolutions. Only copies should be submitted to ServiSolutions. The originating lender is responsible for maintaining originals based on regulatory requirements.
Will ServiSolutions provide the figures for the initial escrow setup at closing?
No. Participating community banks are responsible for calculating the initial escrow amounts.
How will reports be delivered to the community banks?
All community bank reports will be delivered to the community banks through the ServiSolutions secure email.
How will ServiSolutions remit payments to the community bank?
Community banks are required to establish a designated bank account and execute the Authorization to Credit/Debit Bank Account Form to allow funds to be remitted to the community bank by ACH. Payment remittance will be sent to the community bank on the business day following the 10th and 25th of each month. If the dates are on a weekend or a ServiSolutions recognized holiday, remittances will be made the following business day.
Can borrowers make monthly payments online?
Borrowers may access their account online through the Customer CareNet module. Initial setup of User ID and Password is required prior to completing a payment online for the first time. Borrowers may establish a monthly draft OR make a one-time online payment.
Monthly automatic draft payments are free. There is a $3 fee per transaction for one-time online payments.
What are the different ways borrowers can make their monthly mortgage payments?
Should borrowers expect a coupon booklet or a monthly statement from ServiSolutions?
ServiSolutions will provide monthly statements to the borrowers.
What is the process for the homeowner’s insurance renewal notice?
Email, fax, or mail the notice to Customer Service.