How long does it take to get a small business loan from a bank?
Image Source Key takeaways• The timeline to get a bank business loan varies, but expect it to take at least a week • Several factors influence bank loan processing, including the lender and type of loan • Gathering the required loan documents before applying can speed up loan processing Loans are an important source of…
FCI Company: Revolutionizing Loan Servicing
Image Source In the dynamic landscape of finance, FCI Company stands out as a beacon of innovation and reliability in the realm of loan servicing. With a comprehensive suite of services ranging from standard loan servicing to specialty loan servicing, FCI caters to a diverse clientele including private money servicers, mortgage funds, and private lenders.…
Maximizing Returns and Minimizing Risk: The Power of High-Touch Performing Loan Servicing with FCI
Image Source In today’s dynamic economic landscape, enterprises are constantly seeking avenues to optimize returns while mitigating risks associated with their loan portfolios. Amidst this pursuit, the significance of high-touch performing loan servicing cannot be overstated. Enter FCI – a leading name in the realm of loan servicing, offering unparalleled expertise and a commitment to…
FCI’s Specialized Loan Servicing Program
Image Source In today’s dynamic economic landscape, enterprises often find themselves grappling with the challenge of non-performing loans, especially those that have missed the crucial third payment. When traditional methods fall short, specialized solutions become imperative. This is where FCI’s Specialty Loan Servicing Full Collection program steps in as a beacon of hope, offering tailored…
Streamlining Mortgage Fund Administration for Enterprises
Image Source Mortgage Funds, also referred to as “loan pools,” present a compelling investment avenue for enterprises seeking higher yields in real estate loans while mitigating risks through diversified pooling of investor funds. Efficient administration of Mortgage Funds is paramount for ensuring seamless operations, regulatory compliance, and investor satisfaction. Enter FCI – a specialized provider…
FCI Lender Services, Inc.: A Pillar in Private Money Services for Over Four Decades
Image Source Established in 1982 as Foreclosure Consultants, Inc., FCI Lender Services, Inc. (FCI) has evolved into a powerhouse in the financial landscape, specializing in non-qualified mortgage (Non-QM) and private money servicing. FCI’s journey is marked by its commitment to excellence and regulatory compliance, making it a trusted partner for a diverse clientele. A Trusted…
Private financing for small businesses
Many small business owners often need financing assistance to get started or to get out of a financial problem that comes up along the way. However, it is very difficult for banks, credit unions or traditional lenders to agree to provide financing to small businesses. With this in mind, private lenders are an interesting option…
What is a private money loan?
If you are looking for loans, you have probably heard of private money loan and are wondering what this form of lending is all about. Private money loans are common in real estate investment. That said, private money loans are a quick solution for financing or refinancing a real estate investment. Especially if you don’t…
Loss mitigation options to avoid foreclosure
Following the latest housing crisis in 2008, state government agencies have been stepping up mortgage relief programs that encourage lenders and servicers to use loss mitigation options that allow borrowers to better afford their mortgages. When borrowers cannot afford to pay reasonable mortgage payments, loss mitigation options can often help further soften the negative effects…
What is loan forbearance?
Loan forbearance occurs when a lender approves skipping a specific number of scheduled payments on your loan due to the circumstances that caused the missed schedule payments from being made. But what is forbearance? The term forbearance refers to the temporary postponement of loan payments, typically for a mortgage or student loan. This usually happens…
What is a Trial Payment Plan (TPP)?
A trial payment plan (TPP) is the first step in the loan modification approval process. A TPP signifies the end of the loan modification review process and is considered an “approval decision” on your loan modification request. Your lender may propose a Trial Payment Plan (TPP) as part formal loan modification process. A Trial Payment…
FCI Financial API on Azure
Improve your financial experience FCI Lender Services has just launched their Financial APIs on Microsoft Azure cloud. This enhancement takes FCI’s revolutionary APIs and makes them faster, scalable to traffic and even easier to connect to other services. Azure has already increased the APIs speed by 50% and we are just getting started! Advantages of…
5 Types of Mortgage Loans
Mortgage loans are a convenient and effective tool that provide the necessary capital to be able to obtain the home or property of your dreams. If you are interested in obtaining a mortgage or home loan to purchase a home or real estate property, it is important that you know what types there are and…
What is Loan Processing?
Loan Processing means the steps taken by an institution lender from the time a request for a loan application is received to the time the loan is approved or denied, including taking the application, credit investigation, evaluation of the loan and other steps. Below is a guide to the main steps a loan processor must…
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