By: Rachelle F. Berger | VP Business Development
Date: September 24th, 2024

Midwest Loan Services, a trusted leader in mortgage servicing and a dedicated mortgage subservicer, is proud to expand our offerings to include comprehensive HELOC servicing. By unifying mortgage and HELOC servicing under one platform, we streamline operations and improve efficiency for your institution, ensuring long-term success. Whether you represent a credit union or a community bank, our solutions are designed to support your specific needs in managing both mortgage and HELOC portfolios.

Key Benefits of Unified Servicing

  1. Special Pricing: By consolidating your mortgage servicing and HELOC operations, you can unlock volume-based discounts across multiple products, including mortgages, Closed-End Home Equity Loan, and HELOCs.
  2. Consistent Customer Service: Our unified approach ensures that your members receive the same high level of service across all loan products.
  3. Simplified Reporting: Midwest Loan Services offers consolidated data and analytics across your mortgage and HELOC portfolios. By streamlining reporting, you gain a comprehensive view, enabling better decision-making and more efficient portfolio management.
  4. Reduced Compliance Risk: Our team stays on top of evolving regulatory requirements, ensuring that your institution remains compliant across all loan products. As your mortgage subservicer, we manage compliance with the highest standards to reduce risk for your institution.
  5. Operational Efficiency: By choosing Midwest Loan Services, you reduce redundancies and streamline your operations.

Implementation and Integration

Transitioning to a unified servicing model with Midwest Loan Services is seamless. Our dedicated team works closely with your institution to ensure a smooth integration, removing the challenges of managing multiple subservicers. In an initial meeting, we’ll outline a quick and straightforward process for transferring your existing HELOCs, and with minimal adjustments to your loan boarding process, you can easily transfer newly originated HELOCs. This allows for a smooth transition while keeping your current methods for borrower draws intact.

Cost-Benefit Analysis

Partnering with Midwest Loan Services allows you to consolidate mortgage and HELOC servicing under one roof, reducing administrative overhead and improving operational efficiency. Our solutions offer significant cost savings while delivering the exceptional service that credit unions, community banks, and institutional investors expect. By centralizing your mortgage subservicing needs, you can focus on what matters most—serving your borrowers and ensuring long-term institutional success.

Reach out to us to learn more about how our innovative solutions, exceptional service, and dedicated team can help you achieve your goals.