SLS Eligibility Requirements
Below you will find information regarding some of Specialized Loan Servicing's basic eligibility requirements. The requirements outlined in the SLS Whole Loan Servicing Transfer Manual (Traditional) would take precedence over the requirements in the MPF Guide.
- You are responsible for meeting all regulatory requirements.
- Ensure you are using the actual/actual pricing schedule when locking your loans.
- The SRP will be paid to you by SLS; SLS will net the required escrow balance and fees from the SRP. If netting results in a negative SRP, you will be required to wire the required funds within 2 business days:
- Tax Service Fee: $85.00
- Conventional Loan Boarding Fee: $150.00
- Government Loan Boarding Fee: $500.00
Tip: Click here to see how the SRP is calculated.
- SLS requires a two-month cushion for all escrowed items.
- You must be a member of MERS, able to register and transfer loans through MERS
Early Payoff (EPO)
Loan pays off/liquidates within 120 days of the loan funding date
Early Payment Default (EPD)
When any of the first 4 payments due to Specialized Loan Servicing becomes delinquent by 90 days or more
For Government Loans: HUD Section 184 loans are not eligible. See the SLS Whole Loan Servicing Transfer Manual for additional government loan eligibility requirements.
Specialized Loan Servicing Contact Information:
Customer Service: 855.722.2136