Servicing Is the Quiet Years
The long middle of a loan: collecting the payments, minding the ledger, watching the taxes and insurance, and why good servicing is mostly the discipline of noticing.
One schedule of the book
The servicing
the quiet years of payments, the default calendar, the payoff
Notes under this schedule
3
When the Payments Stop
The anatomy of default in a trust-deed state: the notices, the cure periods, the trustee's sale, and the arithmetic that decides whether the equity holds.
The Payoff Desk
How a loan actually dies: the payoff demand, the per-diem arithmetic, the last wire, and why the figure on the statement is only good until a date.