Charging Late Fees on Notes

Successfully owning or buying cash flow notes requires a solid plan for collecting and servicing the payments.  But what happens when the note payments are late?  John Moren, a 25+ year veteran of the note business, explains the issues with charging late fees on notes.  In speaking with our NoteSmith loan servicing software users, I sense a lot of confusion and unnecessary creativity concerning late fees around the country. Here are some issues we have seen over the last few … [Read more...]

Note Buyers Love Payment Histories

Buying and selling mortgage notes is all about receiving those monthly payments. Keeping accurate records will show how much the buyer still owes along with their payment habits.  Plus, it improves the value of the note to investors.  … [Read more...]

What is “Outside Servicing” For Owner Financing?

You may have heard the term “outside servicing” and not really thought of what it is or how it may be helpful when owner financing. … [Read more...]