Account Administration

Loan Portfolio Servicing’s administrative processing utilizes proven systems that equate to efficiency and effectiveness.Loan Portfolio Servicing’s administrative processing utilizes proven systems that equate to efficiency and effectiveness.

Precision, efficiency, and continuous improvement allow us to confidently serve you in the most effective ways available.

Time is a valuable commodity these days, and with back-end functions that include mailing monthly statements and processing payments, as well as convenient options like automatic bank draft and other electronic services, it is easier than ever for your borrowers to pay on time.

Administration services also include:

Credit bureau reporting

Since we understand the importance of your customers’ credit, Loan Portfolio Servicing reports account statuses to all three major credit bureaus (Experian, Equifax and TransUnion) every month. We resolve any disputes, and make necessary corrections, to ensure that your customer’s credit information is always accurate.

Government compliance

Loan Portfolio Servicing stays informed on current and upcoming laws that affect your loans. For example, we make sure the treatment of your accounts adheres to the Soldiers and Sailors Civil Relief Act. Each month, Loan Portfolio Servicing also compares the names of your borrowers to the Office of Foreign Assets Control’s blocked list.

Monthly Statements

• Monthly statements by mail
• We save electronic files of statements for a rolling six-month period

Account Management

• Due date changes
• Payment processing
• Late charge waivers

Payment Processing

• Electronic cash payment (Western Union)