25Sep 2017 by admin No Comments

Service Your Own Loans or Outsource them?

Note Space News
Most clients give a lot of thought into whether they should service loans in-house or outsource them to a loan servicer.  Here are some considerations and some common thoughts on those considerations: Control v. Overhead If you service the loans yourself, you have complete control over the information.  That comes in handy should an investor call you and ask how the portfolio is doing.  You can with a few clicks of the mouse button find the information while they are on the phone.  With a loan servicer servicing your loans, you may not be able to find out that information rapidly and may have to call the loan servicer to get that information.  However, by outsourcing your loan servicing, you lessen your overhead by not needing a person to service…
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19Sep 2017 by admin No Comments

What You Need to Know about Equifax Data Breach

Note Space News
Equifax, one of the three main credit reporting companies operating in the US, last week announced that they had suffered a major data breach that exposed the Social Security numbers and other sensitive information of millions of people. When did the hack occur and when was it made public? According to Equifax, the hackers had access to the data between May and July of 2017. The company discovered the breach on July 29. The Atlanta-based company announced it more than a month later on Thursday, September 7, 2017. How many people were affected? The company says as many as 143 million people in the United States were impacted by this breach. Others in the U.K. and Canada were also affected, but Equifax hasn't disclosed how many. The credit card numbers…
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