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Complete these simple steps to begin servicing your loans with Covey Financial
Getting Started
Thank you for choosing Covey Financial as your loan servicing partner. This document outlines everything you need to begin boarding your loans to our platform. The onboarding process typically takes 1-5 business days once we receive all required documentation.
Important: Before submitting any loan files, all lenders and note holders must complete and execute a Master Servicing Agreement. No loans can be boarded without an executed agreement on file.
Step-by-Step Onboarding Process
These are the requirements for lenders with a loan portfolio serviced by Covey Financial of ten (10) or fewer loans.
Step 1: Review and Sign the Master Servicing Agreement
Our Master Servicing Agreement outlines the terms of our servicing relationship, including fees, responsibilities, and compliance requirements.
What to do: Review the agreement carefully, sign where indicated, and return the executed document to us via email or mail.
Agreement: https://apps.docusign.com/webforms/us/d36d423f3b56caff4e46c5dc4e0973da
Step 2: Submit Loan Boarding Package
For each loan you wish to board, we require the following documentation:
Required Loan Documents to submit to Covey Financial:
- Complete the onboard work sheet: https://coveyfin.com/wp-content/uploads/2023/07/Lender-Onboard-Worksheet-2023.pdf
- Upload executed loan documents
Documents can be submitted securely via email to loans@coveyfin.com or through our secure ShareFile portal https://coveyfinancial.sharefile.com/r-r09c4f62fe9f1459895fbf8a5de8e0f55
What Happens Next?
Once we receive your complete submission, our team will:
- Review all documentation for completeness
- Set up the loan in our servicing system
- Contact the both lender and borrower to establish their online account access
- Begin servicing according to the loan terms
Our typical onboarding timeline is 1-5 business days from receipt of complete documentation.
Fees and Pricing
Our transparent pricing structure makes it easy to budget for your servicing costs. Below are the primary servicing fees you will experience. These are apply for lenders with 10 or fewer loans:
Service
Fee
Monthly Servicing Fee (Performing Loans)
$35 per loan per month
Service
Fee
Loan Boarding Fee
$100
For lenders with pools greater than 10 loans, please contact us directly for the best pricing – Staff@coveyfin.com.
Submission Instructions
Once you have completed all required forms and gathered necessary documentation, submit your onboarding package using one of the following methods:
Email: loans@coveyfin.com
Please send documents as PDF attachments. For large file submissions, we recommend using a secure file-sharing link.
Secure encrypted upload (preferred)
ShareFile portal https://coveyfinancial.sharefile.com/r-r09c4f62fe9f1459895fbf8a5de8e0f55
Timeline and Next Steps
Questions About Onboarding?
Our onboarding team is here to help guide you through the process.
Email: loans@coveyfin.com
Phone: (210) 610-6250
Hours: Monday – Friday, 8:00 AM – 5:00 PM CST
