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What are some services of Midwest Loan Services?

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Quick Answer

Midwest Loan Services provides services such as private label subservicing; Internet and traditional origination; fulfillment; collections or loss mitigation; and secondary market access for clients looking to sell loans. This company services credit unions, community banks and private investors, according to its website.

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Full Answer

Midwest Loan Services specializes in providing mortgage loans for credit unions and other investors. A part of this service is providing clients with online access to Internet origination systems such as Mortgagebot and Prime Alliance, explains Midwest Loan Services. The company also connects clients with licensed loan officers nationwide and portfolio mortgage products. Fulfillment services include underwriting, processing, document preparation, closing and finishing. Clients are able to use an electronic interface with the loan origination system, core banking system, and branch or teller system.

Collections and loss-mitigation services include delinquency tracking; modification or refinancing programs; bankruptcy or foreclosures; and filing investor reports. Midwest Loan Services also provides property management and maintenance services. As of October 2015, secondary market access services are through Fannie May and Freddie Mac. This service helps clients sell mortgage loans to a secondary market without having an established relationship. Midwest Loan Services also helps clients retain and strengthen their relationships with borrowers. The mortgage services and products provided by this company are offered at competitive rates, notes Midwest Loan Services.

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