Midland provides commercial mortgage servicing and subservicing for portfolio lenders, institutional investors, financial institutions, specialty finance companies, mortgage bankers and GSE multifamily seller/servicers.
Our servicing solutions are extremely flexible, allowing clients to retain as many or as few of the servicing activities as they wish. This allows our clients the option to retain direct borrower customer service, asset management and credit-related activities, while increasing efficiency by outsourcing the highly scalable processing activities. Midland's servicing solution can be provided on a private-label basis, which is completely transparent to borrowers.
Benefits of our servicing solutions include:
Reduce operating expenses
- Off-load scalable processing activities
- Reduce system costs
- Transform fixed costs to variable costs
Improve risk management capabilities
- Increase ability to analyze portfolio performance and credit exposures
- Enhance business continuity and disaster recovery capabilities
- Improve audit, control environment and security standards (annual SSAE 16 SOCI audit)
- Access to in-depth expertise in critical exposure functions (insurance, taxes)
Increase operating efficiency
- Better leverage company staff to address value-added activities
- Improve management of complex and subordinate debt
- Enhance borrower customer service through borrower Internet portal
- Improve treasury management to help maximize deposit benefit
- Utilize advanced servicing technology and digital imaging
Midland can provide for all payment processing, loan administration, real estate tax, insurance, UCC, escrow and reserve administration, lockbox and cash management administration, collection activities, and customer service activities. In addition, we can provide credit administration services including annual property inspections and the collection, review and analysis of property operating statements and borrower financial statements as well as "full-scope" asset reviews and valuations. Clients can choose to either retain or contract for the management of borrower-initiated asset management requests or special credits asset management. We can provide all of these services on either a primary or sub-servicing basis.
The cornerstone of Midland's servicing solutions is our proprietary Enterprise!® loan management system. The Enterprise! platform includes an integrated document imaging solution, through which Midland delivers a "paperless" electronic loan file with digital storage and retrieval of loan, property and other related documents. Additionally, Enterprise! features two Internet portals for our servicing clients and their borrowers.
Portfolio Investor Insight® is an Internet-based portfolio administration, inquiry and reporting facility that provides clients access to current loan servicing information, borrower and collateral data, property financial statements and rent rolls, reports, document images, and the ability to print or download reports or documents.
Borrowers and their representatives have access to Borrower Insight®, an Internet-based loan inquiry facility that enables borrowers to view balances, payment histories and billing information on their loans in a secure environment using a standard Internet connection. The portal includes administrative functionality to support users in performing their own borrower customer service functions, facilitating enhanced service and responsiveness. As part of our private-label offering, Borrower Insight can be client-branded, allowing access through the client's own website to provide complete transparency for borrower customer service purposes.
Midland is also an approved Fannie Mae, Freddie Mac and FHA/GNMA multifamily contract service provider. We strive to provide the highest quality of service to our clients' and their borrowers.
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