Servicer Advances:

TIIPAdvances™ Collection and Modification Program

TIIPCollections™ | TIIPModifications™

Collection & Re-performance of Servicer Trust/Securitization Advances -

Billions of dollars of priority debt loans have been created as servicers advance taxes and insurance, and/or principal or interest or make other remittances (TIIP) on distressed mortgage loans.

These advances are critical to the balance sheet of its owners. They are senior to the mortgage lien, small in dollar amounts, but large in cumulative value. These advances are repaid in first priority out of the next available funds not required for other contractual purposes, when the borrower pays it off and becomes current again, at sale or transfer, or with foreclosure proceeds. The servicer is paid late fees but not interest.

Most of these advances are collected within 6-12 months, however with rising consumer debt burdens, further delays or defaults may be on the horizon. The uncollected or troubled population requires special default collection attention. Re-performance procedures or specialized modifications are necessary to collect or return these loans to performing status.

HotNeutral™ has joined with the AFN® to release its TIIPAdvances™ collection and modification program as part of its new best practices recommendations. Handpicked AFN law firms from every state will implement special collection and modification procedures to ensure the collectability and enhance the valuation of these critical assets.

AFN® is the largest mortgage banking attorney network in the U.S. Membership spans all stakeholders and product suppliers in the industry with the exception of debtor’s attorneys and individual consumers. AFN does work with all consumer groups and debtor’s attorneys. Our attorneys represent all mortgage banking companies in the U.S. AFN attorneys process and/or are directly or indirectly involved with over 86% of all the Foreclosure, Loss Mitigation, Bankruptcy and R.E.O. related work in the U.S. More information on the AFN.

Endorsement by AFN
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