Company Services

Placer Lender Services (PLS) provides servicing for institutional investors and private investors regardless of portfolio size.

We will service first, second and third mortgages, mobile home loans, lease contracts and escrow accounts. Our serving covers every aspect of loan administration including investor accounting, escrow, delinquency control, foreclosure management, bankruptcy management and quality control.

Account records can be produced at any time. the date, amount of distribution, installment date or other transactions affecting the amounts due from the Trustor and indicating the latest outstanding balance of principal, impound deposits, and unpaid payments are available upon request.

The Real Advantages and Benefits

All processing include:

  • Payments to property taxes and insurance with established impound account
  • Payments to California Franchise Tax Board when requested for FTB Account
  • Balloon notification-2966 letter
  • Insufficient Funds notice
  • Handle Verification of Mortgage requests
  • Prepare demand for payoff for opened escrows
  • Process payoffs/prepare reconveyances and sub/recons
  • Filing required IRS forms 1098 & 1099 at year end
  • Administration of foreclosures with our sister company Placer Foreclosure, Inc. and bankruptcy referrals
  • Document preparation, assignments, endorsements
  • Collection of payments when due
  • Daily Payment application- payments calculated and applied to principal and interest
  • Accurate record of every payment and disbursement
  • Customer Service – Account information available via telephone, email, or fax
  • Payment coupons provided
  • Automatic assessments of late fees according to the terms of your contract
  • Notices of late payments sent to Trustor/Buyer/Borrower
  • Offer ACH Debit payments from Trustor/Buyer/Borrower and Direct Deposits for Beneficiary/Seller/Lender
  • Note Purchasing
  • Information Needed to Begin

  • A copy of the Note and Deed of Trust/Contract
  • Complete information on the Trustor/Buyer/Borrower
  • Complete information on the Beneficiary/Seller/Lender
  • A signed Servicing Agreement
  • A signed W-9 form
  • Processing Fees

    *Seller/Lender should contact us prior to negotiating the sale/loan so that the Buyer/Borrower will be responsible for the fees.

    Standard Set up Fee

  • $150.00
  • Installment Collection Fee

  • $40.00 (up to 3 Beneficiaries)Standard account
  • $8.00 (each additional Beneficiary)
  • Impound Account Installment Collection Fee

  • $20.00 extra
  • Returned item charge

  • (paid by payor) $35.00 each
  • File Closing Fee

  • $50.00
  • Payoff/Demand statement

  • (paid by payor) $30.00 each
  • Verification of Mortgage

  • (paid by payor) $35.00 each
  • Reconveyance/Recording/Notary

  • (paid by payor) $45.00/$120.00/$220.00/$15.00