Fidelity National Title Account Servicing Department (FNTASD) serves as an unbiased party between payee and payor (Buyer, Seller or Lender). FNTASD provides accurate record keeping and accounting of private loans or seller assisted financing. As a servicing agent, Fidelity National Title’s primary function is to maintain payment records for proper credit against principal and interest for the life of the loan or obligation due from the payor to the payee.
- Buyers benefit since the release documents must be placed with account servicing. This assures the buyer that the lien will be properly released with the county recorder's office upon payment in full of the obligation.
- Sellers find it especially advantageous to have a 3rd party maintain records in the case they wish to pledge their receivable from the note or contract as collateral in order to maintain their own financing.
- Lenders prefer to receive information about collateral from an impartial servicing agent who can furnish documentation if necessary.
The use of a third party to accept and disburse payments, maintain book keeping records and provide summary statements is a benefit to both buyers and sellers as well as their prospective legal counsel and accounting professionals.
After the sale Fidelity National Title's Account Servicing Team will provide the following:
- Original Documents will be stored safely
- Direct Deposit and Payment Check Stubs
- Set up impound/escrow accounts to collect tax and insurance payments
- Payor will receive payment coupons
- Late notices will be sent if needed
- Year end statements
- Competitive Rates
- Full foreclosure and forfeiture services through Fidelity National Title’s Foreclosure Department
For more account detail information or to obtain account information call 480-214-4535