loan servicing by payment automation network

Why outsource your loan servicing to Payment Automation Network?

www.PaymentAutomation.netwww.LoanServicng.co

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Providing Cash Flow Solutions

Payment AutomationPayment Automation Network, Inc. Network, Inc.

© Copyright 2013 Payment Automation Network, inc. All rights reserved



Chances are you did not realize collecting payments would be so time-consuming and that you would be responsible for every detail such as keeping accurate balances, calculating principal and interest amortizations each month, depositing funds, collecting late payments, providing payoff quotes, and keeping the proper records mandated by the IRS.




Payment Automation Network, Inc. helps lenders, investors, sellers by quickly and securely collecting and disbursing funds.




Payment Automation Network, Inc. will eliminate the frustration of payment collections, amortizations and tracking on your existing and future loans.

Our comprehensive note servicing manages all types of installment loans, notes, contracts, and mortgages.




We setup borrowers with Automatic Bank Draft payments (no additional charge).

We send out 1098 Tax forms and Interest Tax Statements.

We send your borrowers yearly Payment Coupon Books or Monthly Statements

We track amortization

We can handle Escrow collections, tracking and payments for Property Taxes and Insurance.

We do all the work




We collect of past due accounts over the phone and by mail.

We accept checks by phone to make it more convenient for your borrowers to pay.

We provide you with comprehensive/professional reporting

We can send payoff quotes any time free of charge.

We have the ability to service loan participation structures involving numerous investors.

We do all the work




With Payment Automation Network loan servicing, we do all the work.

You receive your funds!

You receive your disbursement




Our comprehensive note servicing manages all types of installment loans, notes, contracts, and mortgages.

Real Estate Mortgage Deed of Trust Adjustable Rate Mortgage Land Contracts Bank Loans

Finance Agreements Personal & Unsecured Commercial Loans Construction Loans

Auto Loans Student Loans

Seller Financed Owner Financed Mobile Home Loans Legal Judgments Retail Loans Equipment Finance

We can manage every type of loan

From simple to complex loan structures




Payment Automation Network, Inc. will keep your interests secure, manage all payments and records by:

1.Collecting installment payments from the buyer either by check or automatic bank draft from a bank account2.Transferring the money to the lender/seller/investor3.Encouraging timely payments by assessing late charges and issuing late payment notices4.Handle all bookkeeping associated with the installment contract as required for IRS annual reporting, including year-end interest statements, impound accounts, verifications and payoff demands, monthly balances and late notices




"Our Process is simple”

Lenders/Investors provide new loans.

Borrowers make their payments and receive correspondence, 1098’s and customer service from Payment Automation Network, Inc.

Payment Automation Network, Inc. provides updates to the Lender/Investor of the collection process as well as management reports when requested.





Internal Revenue ServicePayment Automation Network, Inc. will send a Form 1098 “Mortgage Interest Statement” to the IRS and each respective Borrower from whom was received at least $600 of mortgage interest in the preceding calendar year.

Financing PartnersPayment Automation Network, Inc. can provide a valuable services to our Lenders through our network of vendors

We have an Internal Profit Recovery Service with an AttorneyWe can help with the collection of bad debt with our optional Profit Recovery Service that also has the power of an Attorney behind it.

AccountantPayment Automation Network, Inc. can provide each Lender with reports showing monies received from Borrowers, streamlining the accounting function and simplifying tax reconciliation.





Converting to Payment Automation Network Note Servicing is easy and effortless

What you can expect:

1.If you decide to choose Payment Automation Network, Inc. we will prepare a “Loan Servicing Agreement” for your review and coordinate the completion of the Agreement and the necessary attachments.2.Once the Loan Servicing Agreement is executed, we are ready to begin the process to convert the loan servicing on your notes. We will work with you to gather the necessary documents and information for each note.






3.We will prepare a joint “Notification of Change in Loan Servicing” letter to notify your borrowers of the Transfer of Loan Servicing and, upon your approval, will send the notification to your borrowers with instructions and information on what they can expect. To comply with regulatory statutes, the “Effective Date” of the Loan Servicing Transfer will be 30 days from the date of the notice.






4.Account information will be entered into our database in preparation for the “Effective Date” of the Loan Servicing Transfer. Accounts will be activated on our system on the day of conversion.5.Within 15 days of the “Effective Date” of the Loan Servicing Transfer, Payment Automation Network, Inc. will follow up with your borrowers with a “Welcome Letter”, an automatic bank draft payment option, and payment coupons.




How much does it cost?

Because we do such a large volume of servicing, we can pass the savings to you. No matter if you have one single note or thousands of notes, you get the same level of service.

Don’t you hate it when companies don’t post pricing on their websites like they have something hide?

Our fees are posted directly on our websitehttp://www.loanservicing.co/ser_loanFees.php




Included with our low per payment fee•We setup borrowers with automatic bank draft payments (no additional charge) •We accept payments by phone giving your borrower more, convenient payment options •Provide payment processing including annual Coupon Books or Monthly Statements to your borrower •Collect past due payments with late notices and phone calls •Payoff Quotes sent on request (no additional charge) •Payments are processed daily •Monthly disbursement of funds or sent wherever you direct(disbursements can be sent to multiple investors by percentage of portfolio ownership)




Included with our low per payment fee•Provide you with monthly reporting, or reports can be emailed any time by request. •Keep an accurate record of every payment made and every disbursement •Balloon payment notification to your borrower •Provide year-end financial accounting required for IRS (1098 and 1099) •Pay all postage and telephone calls •Note adjustments - principal, interest, fees, escrow (no additional charge)




We have an Email package that contains everything you need to get started with our services. Contact us to request a startup package

Toll free (800) 813-3740 x 3Email

Or visit http://www.PaymentAutomation.net http://www.LoanServicing.co

[email protected]




Thank You for viewing our information.We look forward to hearing from you

Toll free (800) 813-3740 x 3

Email

Or visit http://www.PaymentAutomation.net http://www.LoanServicing.co

[email protected]


loan servicing by payment automation network

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