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Why outsource your loan servicing to Payment Automation Network? www.PaymentAutomation.net www.LoanServicng.co Click your mouse to continue. Press to quit.

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Presentation on theme: "Why outsource your loan servicing to Payment Automation Network? www.PaymentAutomation.net www.LoanServicng.co Click your mouse to continue. Press to quit."— Presentation transcript:

1 Why outsource your loan servicing to Payment Automation Network? Click your mouse to continue. Press to quit Providing Cash Flow Solutions Payment Automation Network, Inc. © Copyright 2013 Payment Automation Network, inc. All rights reserved

2 Providing Cash Flow Solutions Payment Automation Network, Inc. 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. © Copyright 2013 Payment Automation Network, inc. All rights reserved

3 Providing Cash Flow Solutions Payment Automation Network, Inc. Payment Automation Network, Inc. helps lenders, investors, and sellers by quickly and securely collecting and disbursing funds. © Copyright 2013 Payment Automation Network, inc. All rights reserved

4 Providing Cash Flow Solutions Payment Automation Network, Inc. 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. © Copyright 2013 Payment Automation Network, inc. All rights reserved

5 Providing Cash Flow Solutions Payment Automation Network, Inc. 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 © Copyright 2013 Payment Automation Network, inc. All rights reserved

6 Providing Cash Flow Solutions Payment Automation Network, Inc. We collect past due accounts over the phone and by mail. We accept checks by phone to make it more convenient for your borrowers. We provide you with comprehensive/professional reporting. We can send payoff quotes any time free of charge. We have the ability to provide servicing for loan participation structures involving numerous investors. We do all the work © Copyright 2013 Payment Automation Network, inc. All rights reserved

7 Providing Cash Flow Solutions Payment Automation Network, Inc. With Payment Automation Network loan servicing, we do all the work. You receive your funds! You receive your disbursement © Copyright 2013 Payment Automation Network, inc. All rights reserved

8 Providing Cash Flow Solutions Payment Automation Network, Inc. Our comprehensive note servicing manages all types of installment loans, notes, contracts, and mortgages. Real Estate MortgageDeed of TrustAdjustable Rate MortgageLand ContractsBank Loans Finance AgreementsPersonal & UnsecuredCommercial LoansConstruction LoansAuto LoansStudent Loans Seller FinancedOwner FinancedMobile Home LoansLegal JudgmentsRetail LoansEquipment Finance We can manage every type of loan From simple to complex loan structures. © Copyright 2013 Payment Automation Network, inc. All rights reserved

9 Providing Cash Flow Solutions Payment Automation Network, Inc. Payment Automation Network, Inc. will keep your interests secure, manage all payments and records by: 1.Collecting installment payments from the borrower, either by check or automatic bank draft from a bank account. 2.Transferring the money to the lender/seller/investor. 3.Encouraging timely payments by assessing late charges and issuing late payment notices. 4.Handling 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. © Copyright 2013 Payment Automation Network, inc. All rights reserved

10 Providing Cash Flow Solutions Payment Automation Network, Inc. "Our Process is simple Lenders/Investors provide new loans. Borrowers make their payments and receive correspondence, 1098s 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. You receive your disbursement © Copyright 2013 Payment Automation Network, inc. All rights reserved

11 Providing Cash Flow Solutions Payment Automation Network, Inc. Internal Revenue Service Payment Automation Network, Inc. will send a Form 1098 Mortgage Interest Statement to the IRS and each respective Borrower. Financing Partners Payment Automation Network, Inc. can provide valuable services to our Lenders through our network of vendors. We have an Internal Profit Recovery Service with an Attorney We can help with the collection of bad debt with our optional Profit Recovery Service that has the power of an Attorney behind it. Accountant Payment Automation Network, Inc. can provide each Lender with reports showing monies received from Borrowers, streamlining the accounting function and simplifying tax reconciliation. You receive your disbursement © Copyright 2013 Payment Automation Network, inc. All rights reserved

12 Providing Cash Flow Solutions Payment Automation Network, Inc. Converting to Payment Automation Network Note Servicing is easy and effortless What you can expect: 1.When you 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 will 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. © Copyright 2013 Payment Automation Network, inc. All rights reserved

13 Providing Cash Flow Solutions Payment Automation Network, Inc. Converting to Payment Automation Network Note Servicing is easy and effortless What you can expect: 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. © Copyright 2013 Payment Automation Network, inc. All rights reserved

14 Providing Cash Flow Solutions Payment Automation Network, Inc. Converting to Payment Automation Network Note Servicing is easy and effortless What you can expect: 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, and an automatic bank draft payment option. You choose if they receive annual payment coupons or monthly statements. © Copyright 2013 Payment Automation Network, inc. All rights reserved

15 Providing Cash Flow Solutions Payment Automation Network, Inc. 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 a single note or thousands of notes, you get the same level of service. Dont you hate it when companies dont post pricing on their websites like they have something hide? Our fees are posted directly on our website © Copyright 2013 Payment Automation Network, inc. All rights reserved

16 Providing Cash Flow Solutions Payment Automation Network, Inc. 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 sent wherever you direct. (disbursements can be sent to multiple investors by percentage of portfolio ownership) © Copyright 2013 Payment Automation Network, inc. All rights reserved

17 Providing Cash Flow Solutions Payment Automation Network, Inc. Included with our low per payment fee Monthly reporting - reports can be ed any time by request. Keep an accurate record of every payment made and every disbursement. Balloon payment notification to your borrower. Year-end financial accounting required for IRS (1098 and 1099). All postage and telephone calls. Note adjustments - principal, interest, fees, escrow (no additional charge). © Copyright 2013 Payment Automation Network, inc. All rights reserved

18 Providing Cash Flow Solutions Payment Automation Network, Inc. We have an package that contains everything you need to get started with our services. Contact us to request a startup package Toll free (800) x 3 Or visit © Copyright 2013 Payment Automation Network, inc. All rights reserved

19 Providing Cash Flow Solutions Payment Automation Network, Inc. Thank You for viewing our information. We look forward to hearing from you Toll free (800) x 3 Or visit © Copyright 2013 Payment Automation Network, inc. All rights reserved


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