1
Day 1
A 30-Minute Demo
We show you the platform and talk through how you originate and fund, what your investors need from a servicer and where servicing slows you down today.
2
Days 2 to 5
We Gather and Set Up
You send us your loan data however is easiest, and we check it against your loan documents and set everything up in Petra.
3
By day 7
You Check Your Loans
You log in to your own loans in Petra, with every balance and position checked against your current records and anything that doesn’t tie listed for you.
4
When you’re ready
Sign and Go Live
You sign our servicing agreement and we handle the switchover, including any paperwork your borrowers need to sign.
For your preview
Your loan data, in whatever format is easiest to download or export (e.g., spreadsheets, PDFs)
Or your own spreadsheets, if you service in-house
When you go ahead
Your go-ahead before we contact your borrowers and investors
Who funds each loan, with their share, rate and how often they are paid
An email address for each investor named on a note
Anyone you would like us to handle differently, such as a borrower on a payment plan
You
Our servicing agreement, once for each lending company.
Investors named on a note
The same agreement and a short letter naming you as their day-to-day contact, which takes about five minutes by e-signature.
Your borrowers
An ACH authorization, if we collect for you. On Back Office, your borrowers sign nothing new.
Everything goes out by e-signature, with you copied in.
If we collect for you
Each borrower gets an email from us, copied to you, with an ACH form to sign. It makes clear that their lender, rate and payment are not changing, and their old debit stops once the new one is set up, so nobody is charged twice.
If you keep collecting
Nothing changes for your borrowers. They keep paying you as they do today, and the monthly statements and 1098s we prepare go out in your name.
What It Costs
The preview costs nothing and commits you to nothing. If you go ahead, boarding is $50 a loan, or $25 each when ten or more loans board together, and your monthly price depends on how you choose to work with us.
Start Your Preview
Tell us a little about your book and we’ll be in touch to arrange your demo.
Prefer to talk first?