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Parent. Fairbanks Holding (1989-2004) SPS Holding Corp. (2004-2005) Credit Suisse First Boston (2005-2006) Credit Suisse (since 2006) Website. spservicing .com. Select Portfolio Servicing, Inc. (SPS) is a loan servicing company founded in 1989 as Fairbanks Capital Corp. with operations in Salt Lake City, Utah and Jacksonville, Florida .
Loan servicing is the process by which a company (mortgage bank, servicing firm, etc.) collects interest, principal, and escrow payments from a borrower. In the United States, the vast majority of mortgages are backed by the government or government-sponsored entities (GSEs) through purchase by Fannie Mae, Freddie Mac, or Ginnie Mae (which purchases loans insured by the Federal Housing ...
Mortgage Electronic Registration Systems, Inc. (MERS) is an American privately held corporation. MERS is a separate and distinct corporation that serves as a nominee on mortgages after the turn of the century and is owned by holding company MERSCORP Holdings, Inc., which owns and operates an electronic registry known as the MERS system, which is designed to track servicing rights and ownership ...
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The most popular fall into two categories: home-secured loans, including a lump-sum home equity loan or a home equity line of credit (HELOC), and a type of mortgage called a cash-out refinance.
Types of first-time homebuyer programs. Low-down payment conventional loans: Conventional loan programs that require just 3 percent down. Down payment assistance (DPA) programs: Loans, grants and ...
Key takeaways. A bank statement loan allows you to qualify for a mortgage using bank statements rather than tax returns. It’s most often used by self-employed borrowers. Not all mortgage lenders ...
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