First Financial Associates, through its wholly owned subsidiary, Loan Service Center (LSC), specializes in providing comprehensive loan management, servicing, and collection services. LSC is currently servicing a variety of residential, consumer, and commercial loans.

The loan servicing services provided by LSC include the following:

1. Assisting in the review of loan applications.
2. Setting-up, maintaining and safeguarding loan files along with all the required documentation.
3. Sending out "Hello" or "Welcome" letters to borrowers that have a new loan with LSC, and advising borrowers of their due date, the monthly amount due, and the remittance address.
4. Sending out coupon books or monthly statements to each borrower.
5. Collecting principal and interest payment, along with escrow payments for property taxes and insurance, if applicable.
6. Forwarding collected payment to our clients.
7. Analyzing each loan account at least annually to determine whether an adequate amount is being collected each month for the payment of all required escrow payments.
8. Enforcing collection procedures as required to manage and minimize delinquencies.
9. Posting payments to each borrower's account, ensuring that appropriate amounts are applied to principal, interest, late charges, escrows, and others as appropriate.
10. Producing monthly trial balance report for all loan accounts.
11. Producing monthly delinquency reports which groups loans by the age of the delinquency (30 days, 60 days, 90 days, etc.).
12. Processing assumption requests and making a recommendation regarding the acceptance of an assumption proposal.
13. Preparing loan payoff documents, including the cancellation or satisfaction of security deed, or the UCC-3 form.
14. Assuring that all collateral, including real property, that is securing a loan, is adequately insured to protect our client's lien position in the event of a hazard.
15. Prepare and file the annual IRS 1098 reports, and provide each borrower with a copy of their respective report.