BACKUP SERVICING

Having the right partner for Backup Servicing can make or break any business. That’s why we rely on 35+ years in the business, bulletproof relationships with the industry’s key players, and a penchant for rapid service success to meet all your backup servicing needs and performance expectations.

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Warm Backup

With Warm Backup Vervent ensures the security of having an experienced primary servicer available for successor servicing.
Delivers monthly confirmation of backup reporting
Delivers reconciliation requirements
Analyzes loan data on a regular cadence to ensure validation & reconciliation that data matches primary servicer
Preserves operational capacity to match the servicing needs of the portfolio
Ensures Vervent is ready to graduate to Hot Backup if additional portfolio concerns arise or assume the role of primary servicer within ~30 days

Hot Backup

With Hot Backup Vervent is essentially servicing the portfolio behind the scenes so that they can take over as the successor at any time.
Runs parallel with the primary servicer
Duplicates primary servicer’s processes, to be able to duplicate results should the need arise
Includes nightly payment files & payment posting in our test environment
Offers daily validation & reconciliation to ensure Vervent data is an EXACT match to primary servicer
We do everything except contact the borrower