Are you OCC compliant? Are your multi-state vendors registered in the states they service?
Inspection, preservation & REO vendors may not be registered to do business in the states they service. The simple fact is that corners get cut which may leave servicers at risk. If a vendor is registered to do business in each state, they’ll be exposed to each state’s requirement for tax, registration, licensing, etc. For some, it’s too much to bear.
It is an OCC requirement and best practice to know who you are doing business with. Ask your provider for a list of registration IDs/Charter #s issued by the Secretary of State for each state you’ve asked them to service.
If you find they are not registered & you are now at risk for noncompliance, call us. We can step in. AIM Your Way 800-776-1815.