Servicing

Resource Tools:

Wholesale Servicing Resource Tool - What you need to know after your client's loan has funded

Correspondent Servicing Resource Tool - What you need to know after your loan has been purchased

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Parkside offers options that may be available to borrowers who are unable to afford their mortgage payments and who wish to avoid foreclosure, and instructions to borrowers advising them on steps to take to explore those options.

We are committed to helping our customers retain their homes. In some cases, if you believe that you will continue to have trouble paying your mortgage, selling your property now may be your best choice. The expansion of the government's Home Affordable program introduces new benefits for those homeowners who are no longer able to retain their home but would still like to avoid foreclosure. If you do not qualify under the government's Home Affordable eligibility criteria, you may still be eligible to work with Parkside Lending under our regular foreclosure alternative options.

Options include:

  • Pre-Foreclosure "Short" Sale: Short sales are useful for homeowners who owe more on their home than it is currently worth. If so, Parkside Lending may accept less than the amount we are owed. Plus, you can control the timing and terms under which you move. To be considered for a short sale you would need to submit your request for a short sale. If you have not already been considered or qualified for a loan modification, you should start with the loan modification eligibility criteria first.
  • Deed-in-lieu of Foreclosure: A voluntary transfer of ownership to Parkside Lending to satisfy the debt and avoid foreclosure.

If you are borrower who has your loans serviced by Parkside Lending, LLC and you are requesting that Parkside Lending, LLC considers either a Short Sale or a Deed In Lieu of Foreclosure the following information is required. Borrowers should collect and be prepared to present the following financial documents to Parkside Lending, LLC, beneficiary, or authorized agent when discussing options for avoiding foreclosure:

  1. List of all monthly income and expenses
  2. Proof of income (current paystub, most recent W-2 or tax returns)
  3. List of all assets (most recent bank statements)
  4. All documentation on subordinate liens on the property (mortgage note or statement)
  5. A written letter of explanation detailing the hardship

Please call 415-771-3700 (option 4) if you are a borrower who wishes to discuss options for avoiding foreclosure with Parkside Lending, LLC, Parkside Lending, LLC’s beneficiary, or Parkside Lending, LLC’s authorized agent(s).

The following toll-free telephone number is made available by HUD to find a HUD-certified housing counseling agency: 1-800-869-4287

Additional Information:

 Home Affordable Modification Program (HAMP) Frequently Asked Questions