The lead lender maintains all direct contact with the borrower; CUBG serves as the backroom servicer, interacting and communicating with the lead lender and the participants.
Business Loan Participation Servicing:
CUBG can also act as master servicer of your participation loans, taking care of all contact between the lead lender and participants. As your participation loan servicer, CUBG will:
- Serve as a backroom servicer, processing and communicating with the lead lender and participants
- Set up the participation on our loan servicing system after closing
- Post payment amounts to the servicing system as appropriate after receiving notification of the payment amount and details from the lead lender
- Disburse the appropriate monies to each participant after the lead lender forwards the participant payment monies to CUBG
- Report the breakdown of principal, interest and other components of each payment to the participants and the lead lender
- Set up reminders of key dates and required follow-up on the loan and send reminders to participants and lead lender as appropriate
- Send applicable reports to all lead lenders
- Assist participants with reporting on loan payoffs
To learn more about participation loan servicing, email us at firstname.lastname@example.org.