SubServicing Special Report.(mortgages)(Brief Article)

These days, lenders expect a lot from a subservicer. They still own the loan, so they have a stake in how well the borrower is treated, especially since the subservicer often acts in the lender's own name. It's a bit like the trucking business. A trucker's primary responsibility is to get merchandise from one location to another without letting anything fall off the truck. But in fact, much more is expected of a trucker. He's responsible for keeping the merchandise safe, protecting it against damage, and doing his work efficiently. In fact, he may even be marketing the product he's transporting, by way of company logos or advertisements on the side of his vehicle.

Subservicers work in a more hi-tech world than truckers typically, and they manage their businesses with sophisticated computer systems rather than road maps. But they are expected to do more than just manage an account between loan boarding and payoff. They might cross-sell on ...