Benefits of Using a Mortgage Servicer

By Steve MacMillan, First Vice President, Mortgages at Bankers’ Bank

With changes in the mortgage industry, many community banks are questioning if it makes sense to stay in the servicing business. Discover how you can ease your regulatory burden, reduce expenses, and maintain your customer base by partnering with Bankers’ Bank to be your secondary market mortgage loan servicer.

As you navigate through tax statements and property tax disbursements, do you often find yourself asking questions such as “Is there an easier way to print customer statements?” or “How can I better manage escrow accounts?” Instead, maybe consider asking, Is there a community banking partner that I trust to handle mortgage servicing for me?

Bankers’ Bank Mortgage Servicing can be your trusted partner. You’ll receive a full service, non-compete mortgage servicing team that services a variety of loan types, terms, and from 12 states in the Midwest.

Full Service means Always Your Partner

Non-Compete means Never Your Competitor

Mortgage Servicing is Expensive!

The average cost to service a mortgage loan per year is $177 according to a 2023 MBA study. It’s not just employees that make up the cost to service a loan: record retention, loan setup, payoffs, cashiering, investor accounting, servicing systems all add to the overall cost to keeping the loan on your books. Did you know a single delinquent mortgage loan could quickly balloon to over $1,000 per year with property preservation and legal fees? In addition to expense, there are numerous federal, state, and investor regulations which make mortgage servicing a challenging proposition. Make sure your mortgage servicing portfolio is adding to your bottom line, not subtracting from it.

The best way to take advantage of this service is to use our secondary market origination services, which provide access to loan processing, dedicated underwriters, and closing document preparation.

Whether you are actively originating mortgage loans, want to get started, or have an existing secondary market portfolio, talk to Bankers’ Bank today to explore how we can be your partner to reduce your regulatory burden and expenses while maintaining your existing customer base.

Contact your Correspondent Banker to take advantage of this mortgage service.