Delinquency and Default Follow-Up Management

Loss of income to public sector agencies due to non-performing loans is very common because of the unrelenting follow-up and labor involved. Because of budget and staff cuts, many of these agencies are unable to dedicate the personnel necessary to generate the maximum return on this valuable asset. AmeriNational’s diligent collection efforts have been tailored through our 30 years of experience as we work with our clients to reduce delinquency and default rates.

A borrower is delinquent if payment is not received on or before its due date, irrespective of the grace period. A borrower is in default of the promissory note when two payments are past due. AmeriNational proposes to provide treatment for delinquent mortgages through positive pressure that is fair but firm. If delinquent borrowers have a positive attitude toward their obligations, we will work with them to help them retain title to their property. Procedures include letters to delinquent borrowers and due diligence phone calls. A strict follow-up policy will be adhered to by AmeriNational to minimize any loss of income to the City.

In the event of a hardship situation, AmeriNational will work with the borrower in formulating a forbearance plan to be executed only upon the Agency’s approval. If necessary, foreclosure recommendations may also be recommended. If a borrower has been uncooperative, non-responsive, or unwilling to cure the existing default by all reasonable means, AmeriNational will recommend foreclosure.

Credit Reporting

AmeriNational is capable of performing monthly scheduled credit bureau reporting of borrower loan payment activity. This action serves two purposes: 1) it prompts those borrowers with the ability to pay, that have elected not to pay, to attend to their payment obligation to mitigate negative credit history reporting; and 2) it serves to establish positive credit activity for those borrowers paying timely, that may have had credit issues in the past, or routinely pay on time and should be recognized for such.

Service Menu

• Loan Portfolio Management
• Delinquency and Default Follow-Up Management
• Loan Processing And Underwriting
• Loan Document Preparation
• Fund Disbursements Services
• Davis-Bacon Wage Compliance Monitoring
• Residual Receipt Analysis
• Compliance and Financial Monitoring
• FSS Escrow Funds Management

Turnkey Program Services

• Down Payment Assistance Programs
• Rehabilitation Program Services