Introducing the Cost-effective Choice
for Virginia's Community Banks.
In today’s volatile marketplace, Virginia’s community banks are looking for ways to manage the costs associated with loan processing and customer care. Meanwhile, onerous new escrow regulations are making it tough to offer mortgage products that attract new business.
In 2011, legislation introduced by the Virginia Bankers Association and passed by the General Assembly resulted in changes to VHDA’s charter that allow us to service mortgage loans other than our own.
The result is a sub-servicing solution that can help you, as a community bank, consolidate service operations for your mortgage loan portfolio — without compromising profitability and value — by leveraging VHDA’s:
- Solid 17-year track record of servicing loans through every economic cycle.
- Dedicated staff of single family mortgage servicing professionals.
- Efficient processes and economies of scale.
- State-of-the-art technology.
Why Choose VHDA Servicing Options?
We’re approved to service FHA, VA, RHS, conventional loans with PMI and uninsured loans. In addition, as an approved Ginnie Mae and Fannie Mae seller-servicer, VHDA has built strong relationships with both organizations, enabling us to address everyday questions and special situations quickly and efficiently. Our systems can handle every phase of your servicing including:
- Payment processing.
- Disbursement of taxes and insurance.
- Annual escrow analyses.
- Escrow processing.
- Cash and investor reporting.
- Collections of accounts delinquent up to 60 days.
- Default administration, which includes collections, loss mitigation, bankruptcy and foreclosure.
Our servicing professionals average more than a decade of industry experience and manage a large portfolio that includes:
- More than 53,000 VHDA loans with balances of over $5.2 billion.
- Loans for the Norfolk Redevelopment & Housing Authority and the Richmond
Redevelopment & Housing Authority.
- Habitat for Humanity Virginia home loans — currently more than 1,000 serviced pro-bono.
VHDA provides flexible customer service designed to strengthen the relationships you’ve cultivated with your customers. Customers will still make their payments in your branch (or online). Your customers will appreciate:
- One-to-one phone assistance provided by our servicing staff Monday - Friday, 9 a.m. - 4:30 p.m.
- Service transactions with log-in authentication and data encryption.
- Access to loan information 24/7, including payments, escrow, account history, default, notes and memos.
For more information, please contact Tom Dolce at 804-343-5612 or email@example.com.