Note Servicing Process
"Our Process is simple”
- Lenders/Investors provide new loans.
- Borrowers make their payments and receive correspondence, 1098’s 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.
- Internal Revenue Service
Payment Automation Network, Inc. will send a Form 1098 “Mortgage Interest Statement” to the IRS and each respective Borrower from whom was received at least $600 of mortgage interest in the preceding calendar year. - Financing Partners
Payment Automation Network, Inc. can provide a 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 also 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.
Contact a representative to have your start up package emailed to you.
Need more information?
- Back to the Main Note Servicing main page
- View the Fee Schedule
- View the Getting Started page
- View Frequently Asked Questions
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Print our PDF brochure for more information |
