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How are the loans serviced?

April 26, 2017Loans serviced

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How are the loans serviced?

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Foreclosure Consultants Inc. (“FCI”) serves as third party servicing agent for the Fund. The FCI operation was originally the foreclosure division of Pacific Pension and Investment. It split off as its own company and incorporated in 1982 as Foreclosure Consultants Inc. dba FCI. In 1988 Mercury Savings turned over its private portfolio of about 2,000 loans to FCI for servicing. Also in 1988, FCI bought Aames Home Loan’s Private Lender Division (known as Private Lending Services), which consisted of over 2,000 investors. FCI currently services over $500 million in private lender loans and is one of the top independent trustee foreclosure companies in California.