Loan Servicing

Who is Premier Capital Loan Services (PCLS)?

  • An originator and lender
  • Focused on manufactured homes
  • Over $25M under management
  • Experienced staff in 2 locations
  • Strong asset base
  • Offer range of services
  • Automated payment processing
  • Accurate and efficient

Basic Plan

  • Call Borrowers when grace period has lapsed (within 2 business days)
  • Call Parks for current status of rent
  • Keep track of Insurance Binders and confirm Property Insurance is current
  • Confirm Property Taxes are paid
  • Accept ACH debits and debit card payments
  • Report Borrowers to Credit Bureau

Extended Plan

Late Borrowers

  • Send to Skip Trace for face to face action
  • Send letter of Notice of Default from Attorney
  • Talk with Park Manager to determine if they are late and if so discuss alternatives
  • Call Borrowers work numbers, email, etc. to discuss payments