Shellpoint Service Transfer

When did the transfer occur?

• September 15th, 2020.
• Any payment received from the Borrower on or after 9/1 will be held by FCI and forwarded to Shellpoint.

Will there still be visibility into the performance of the loans?

• Yes, the PS portfolio view will include the status of these loans. There will not be any access to Shellpoint portal directly.

Will Borrower's payment history be available?

• Currently, this is not available but will work on getting this data point available in the future.

When will we receive disbursements?

• The 15th of each month or the next business day should it land on a weekend or holiday, for all payments made the previous month

When you send us the disbursements will you send us a breakdown on each loan?

• Yes, the breakdown will be at the loan level.

Will the originator be able to request a payoff quote on behalf of the borrower?

• Yes, but must be accompanied by a borrower authorization form. 

Will this affect loans with construction reserves? 

• No, draw requests will still be reviewed by PS Funding but will be disbursed by Shellpoint instead of PeerStreet.
• Inspection fees disbursed by Shellpoint on a monthly cadence.

• Will borrowers get a welcome letter?
• Yes, Shellpoint will mail, email and give an introduction call within 5 days of boarding the loans.

• Who should the borrower contact for a payoff quote, extensions, modifications, late fee waivers or general inquiries?
• Customer Care Line: 1-800-365-7107
• For general inquiries related to servicing – [e-mail]

Payoff requests – [e-mail]