Basic Loan Servicing:

$15.00 per Lender / Month*

 

  • Borrower Welcome Letter
  • Borrower Monthly Statement
  • Lender Welcome Letter
  • Lender Monthly Statement of Account
  • Electronic Collection (ACH) from Borrower
  • Electronic deposit of Funds (ACH) to Lender's account
  • End of year 1098 & 1099
  • 24/7 on line secure account access
  • Delivery of 30 day Notice
  • Customer Service for borrower and lender
  • Liaison between Borrower, Broker and Lender
  • Demands and Reconveyances*

 

* In most cases, Del Toro retains 50% of late fees and prepayment penalties
* Set-up fees and rush fees may apply

 

Premier Loan Servicing:

$25.00 per Lender / Month*

 

This level of Servicing includes all of the Basic Loan Servicing plus:

  • Reviews of  loan files to ensure that all required documents are enclosed
  • Broker / Vendor interest split
  • Providing after hours emergency contact
  • Senior Lien Tracking
  • Insurance Tracking
  • Notification to all parties of lapse in insurance
  • Property Tax Tracking*
  • Assist and consult on: income verification, credit analysis and loan applications
  • Maintaining and Safeguarding the loan files* *
  • Sending out "Hello" or "Welcome" letters to new borrowers
  • Sending out coupon books or monthly billing statements to each borrower
  • Annual account analysis to ensure appropriate amounts are collected escrow payments
  • Producing a weekly or monthly trial balance for each client, with desired groupings
  • Producing reports per Broker or Lender grouping loans by the age of delinquency
  • Loan assumption requests
  • Developing and implementing a comprehensive loss mitigation program, including structuring loan modification agreements and loan workout agreements.
           

 

* Additional fees may apply
** All files are backed up to multiple secure servers on and offsite

 

Loan Origination:

  Basic: $495.00

 

  • California Disclosures
  • Federal Disclosures
  • Note
  • Deed
  • Limited correspondence with Title and Escrow
  • Forwarding of all closing documents to Borrower and Lender
  • Add $200 for construction or cross-collateral loans
  • Commercial will be evaluated on case by case basis


* Fee required with order


  Premier: $1,295.00 + .5% of loan amount

 

  • Provide all basic services plus
  • Collect and verify: Income, employment, insurance etc
  • Compliance Review (If legal advice is required, additional fees will apply; this is discussed before legal services are retained)
  • Deliver and review Preliminary Title Report with all parties
  • Collection of Lender’s Stipulations in conjunction with Escrow to ease and speed transaction
  • Multi-lender transactions over 3, add $100 per additional Lender
  • Use of our Broker’s License (CA only)
  • Coverage under our E & O policy


* $495.00 non-refundable payment due with order

 

Document Services:

 

  • Loan Documents 

  • Assignment of Deed of Trust

  • Note or Deed

  • Subordination Agreements

  • VOM

  • Replacement Lender/Borrower Packets

  • Rush (Demand, VOM etc.)

$495 - $1895.00+

$100.00

$50.00

$50.00/Lender

$50.00

$35.00

$80 add'l

 

*Fees are for prep and delivery only

 

Professional Services:

 

  • Compliance Review

  • Overnight Delivery

  • Wire or Payments

  • Administrative Costs

  • Professional Costs

  • Processing Foreclosure Vote

  • Processing Loan for Foreclosure

  • Emailing of documents to signing location


$250.00

$30.00

$30.00

$80.00 / hr

$195.00 /hr

$250.00

$1,500.00

$50.00

*Fees subject to change

 

* Contact us if you need services not discussed here.


Loan Servicing and Loan Origination Descriptions

 

Seller Carry Financing

Seller financing or “Owner Carry” is when the seller of a property allows the buyer to pay all or some of the purchase price over time and assumes the position of Lender. Typically, the transaction is set up as a Private Loan which means that the seller holds a lien on the property – just like a bank. In many situations, this helps both buyer and seller.

Del Toro is very experienced in setting up and managing Private Loans. Whether you are the buyer or the seller, you will have access to a professional list of services designed to help protect your financial interests and facilitate your transaction smoothly and quickly.

 

Seller financing makes possible a strong percentage of transactions that would normally not be able to happen; WE MAKE IT SIMPLE AND SAFE!

 

Intra-Family Loans (Personal and Secured)

Since the beginning of time individuals have been lending money to relatives, friends and business associates. At last count, the Federal Reserve estimates these private loans in the U.S. to exceed $85 billion. Even though this is a common practice, it is anything but a simple process – WE CAN HELP!

 

Borrowers have a tendency to repay with better effectiveness if there is a third party providing structure and requiring adherence. Lenders can lend with greater confidence knowing that the “Company” becomes the “Bad Guy” in the collection process.

 

Del Toro offers a professional way to manage the mechanics of your loan. In addition to the “Bad Guy” buffer, we provide monthly payment plans and electronic funds transfers that can increase the chance that the loan is repaid on time.

 

Having us do the collecting as well as managing what are sometimes partial or sporadic payments, removes a great deal of the stress to you and eliminates possible miscalculations from “do it yourself” accounting processes; our professional systems is used by some of the largest financial institutions in the country.

 

Lenders feel better offering a helping hand to relatives and friends. They get day-to-day management of the loan by a professional third-party and professional record-keeping. Lenders also have access to online accounts and professional tools major companies use to recover unpaid debts, such as collections and tax deductions for capital losses.

 

Borrowers benefit by being able to access loans at favorable terms from friends or relatives. These loans are often used to take major financial steps toward buying a home, continuing education, launching a business or refinancing high interest credit card debt.

 

Services include:

 

  • Personal Loan documentation preparation: $295.00 Set-up Fee
    • Promissory Notes
    • Security Agreements
    • Onsite and offsite electronic document storage
  • Loan servicing (Both Personal and Mortgage): $15.00 Monthly Fee
    • Monthly and year end statements
    • ACH collection and distribution
    • Help with restructuring
    • Online accounts
    • Toll Free Customer Service
  • Mortgage Loans

 

Commercial and Construction Loans

 

Commercial and Construction loans are worked on a case by case basis. Please contact us for more details.

  • Real Estate attorneys on retainer in many states for quick answers to your questions and review of closing documents is needed
  • Fund control available
  • Collection and safekeeping of construction plans and permits for added loan security