What do you have to do to get into the specialized loan servicing business?

Answer by  Dean (4035)

Write a detailed business plan regarding your proposal to compete in the specialized loan servicing business. Your service must be better, more efficient and less costly than others that rule the market at this time. Knowledge of accounting practices, software development and project development are essential, as are the requirements of due diligence for the particular field.

Answer by  csa (6)

To be an ethical loan servicing professional you need to understand financing, get certified by an appropriate certification program, and understand the market at local, state and federal governance levels.

Answer by  Hewitt302 (1720)

As with any specialty, you'll need a degree. Business degree, preferably a bachelor's, is recommended. You should also be employed at a regional bank as loan officer.

Answer by  MsTiffany (117)

You will have to get your business registered first. Then you would have to apply for a tax ID number online. Then start your business.