Midwest Loan Services
Midwest Loan Services is a mortgage subservicer (a division of University Bank) that services over $35 billion in loans for 300-plus credit unions, community banks, and institutional lenders across all 50 states, using the LoanSphere Servicing Digital platform with AI-enabled call center and mobile borrower tools.
- Company typePrivate
- Founded1994
- HeadquartersHancock, United States
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Midwest Loan Services does
Midwest Loan Services is a mortgage subservicing firm operating as a division of University Bank (Member FDIC, headquartered in Ann Arbor, Michigan). Founded in 1994 and headquartered in Hancock, Michigan with a newly opened Jacksonville, Florida office, the company services more than $35 billion in mortgage loans on behalf of over 300 community banks, credit unions, and institutional lenders across all 50 states. Its primary functions include payment processing and collection, escrow management, borrower customer service, regulatory compliance, loan modification, loss mitigation, default prevention, and 1098 tax statement processing.
The company's core technology stack is the LoanSphere Servicing Digital platform, which provides automated payment processing, real-time reporting, and borrower self-service. This is augmented by an AI-powered call center with predictive call routing and conversational IVR, a cloud-based infrastructure with encryption and disaster recovery capabilities, a mobile application supporting Apple Pay, Google Wallet, and biometric login, and an API integration layer for payment and data exchange. In September 2024 the company extended its platform to offer HELOC servicing unified with mortgage servicing under a single reporting interface.
Midwest Loan Services generates revenue primarily through recurring mortgage subservicing fees charged to financial institution clients on a portfolio basis. Pricing is not publicly disclosed and is negotiated individually based on portfolio size and service scope. The go-to-market is sales-led and enterprise-oriented, with dedicated business development leadership (EVP and VP of Business Development), vertical-segmented marketing (Credit Unions, Community Banks, Other Lenders and Investors), and supporting channels including content marketing, LinkedIn thought leadership, mortgage industry conferences, and a client partner portal. The firm operates in a regulated environment under NMLS licensing and holds the Fannie Mae STAR Award (2024).
Midwest Loan Services firmographics
Firmographics- Name
- Midwest Loan Services
- Legal name
- University Bank (Member FDIC), DBA Midwest Loan Services
- Website
- https://midwestloanservices.com
- Company type
- Private
- Founded year
- 1994
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Midwest Loan Services is a mortgage subservicer (a division of University Bank) that services over $35 billion in loans for 300-plus credit unions, community banks, and institutional lenders across all 50 states, using the LoanSphere Servicing Digital platform with AI-enabled call center and mobile borrower tools.
- Ownership category
- akta.pro rank
Midwest Loan Services industry classification
Industry- Product category
- Mortgage Subservicing
- NAICS
- Depository Credit Intermediation (5221), Credit Intermediation and Related Activities (522)
- SIC
- Mortgage Bankers & Loan Correspondents (6162), Savings Institution, Federally Chartered (6035)
- akta.pro primary industry
- Subservicing (Third-Party Servicing for Owners/Originators) (FSALAEAD)
- akta.pro secondary industries
- Home Equity Loan/HELOC Servicing & Subservicing (FSALAGAD), Prime (Agency/Conforming) Mortgage Servicing (FSALAEAA)
Keywords
Where Midwest Loan Services is headquartered
LocationHeadquarters
- HQ city
- Hancock
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Midwest Loan Services business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- Mortgage Subservicing Fees: Midwest Loan Services generates revenue through mortgage subservicing fees charged to Credit Unions, Community Banks, and other lenders/investors. The company services mortgage loans on behalf of these institutions, handling payment collection, escrow management, and borrower support.
Go-to-market motion2 records
Distribution channels5 records
Marketing channels6 records
Midwest Loan Services product offering
Product offeringCore offering
Midwest Loan Services is a mortgage subservicer that administers mortgage and HELOC loans on behalf of Credit Unions, Community Banks, and other lenders/investors. Services include payment processing and collection, escrow management, borrower customer support, regulatory compliance management, loan modification and loss mitigation, default prevention, disaster assistance, and real-time reporting. The company services more than $35 billion in mortgage loans for over 300 community banks and credit unions nationwide.
Product overview
Midwest Loan Services is a mortgage subservicing company offering a unified platform approach with three core product lines: (1) the LoanSphere Servicing Digital Platform with integrated mobile application for borrower-facing mortgage management, (2) HELOC servicing unified with mortgage servicing for consolidated reporting, and (3) specialized subservicing services segmented for Credit Unions, Community Banks, and Institutional Investors. The company services over $35 billion in mortgage loans across all 50 states through offices in Hancock, MI and Jacksonville, FL.
Differentiator
Problem solved
Functional benefit
Products and services
- LoanSphere Servicing Digital Platform
Quantifiable outcome
- Reduced servicing costs by 20%
- +1 more outcomes
Companies that use Midwest Loan Services
Customer profileNamed customers3 records
Segments3 records
Ideal customer profiles1 record
Midwest Loan Services technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
AI capability6 records
Feature5 records
Midwest Loan Services partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Ardley TechnologiescoreStrategic partnership with Ardley Technologies to advance mortgage servicing and loan recapture capabilities. This collaboration enhances Midwest Loan Services' ability to address borrower retention challenges by integrating Ardley's recapture technology solutions, giving clients tools to retain borrowers who might otherwise refinance with competitors.
Scale indicators4 records
Recent moves7 records
Expansion highlights5 records
Midwest Loan Services competitors and assessment
Company assessmentDirect peers
- ServiceMac: ServiceMac is a mid-to-large US mortgage subservicer focused on residential loan servicing for banks, credit unions, and mortgage companies. Comparable to Midwest Loan Services as a pure subservicing peer with a similar relationship-driven, personalized-service approach targeting community-focused depository institutions.
- BSI Financial Services: BSI Financial Services is a mortgage subservicer and financial services provider offering loan servicing, default management, and customer care to lenders and investors. Comparable to Midwest Loan Services in subservicing and default operations scope, with similar focus on third-party servicing for banks and credit unions.
- Specialized Loan Servicing (SLS): Specialized Loan Servicing is a US mortgage subservicer providing residential loan servicing, default management, and investor reporting to banks, credit unions, and asset managers. Closely comparable to Midwest Loan Services in subservicing model and mid-sized institution client focus, with strong default/loss mitigation overlap.
- LoanCare (a Fidelity National Financial company): LoanCare is a major US mortgage subservicer, primarily serving banks and credit unions with full-service subservicing including default. It is closely comparable to Midwest Loan Services in customer mix (community banks, credit unions), service model (third-party subservicing), and operational footprint, with materially larger scale.
- Cenlar FSB: Cenlar is the largest wholesale subservicer in the US, serving commercial banks, credit unions, and mortgage companies with full-spectrum servicing including default and loss mitigation. Comparable to Midwest Loan Services in subservicing model and target clientele, though at significantly greater scale (multi-million-loan portfolio).
- Dovenmuehle Mortgage: Dovenmuehle is one of the largest independent US mortgage subservicers, providing third-party servicing to banks, credit unions, and mortgage companies — the same core customer segments and service model as Midwest Loan Services. It is the most direct functional peer for subservicing-only, relationship-led engagements with mid-sized depository institutions.
- Seterus (a Mr. Cooper company): Seterus is a mortgage subservicer owned by Mr. Cooper, focused on residential loan servicing and default for bank and credit union clients. Directly comparable to Midwest Loan Services in subservicing focus and customer segments, with parent-company scale and technology resources that exceed Midwest Loan Services' standalone capability.
Broad incumbents
- Mr. Cooper: Mr. Cooper is the largest US mortgage servicer ($1T+ in owned and subserviced loans) and a publicly traded subservicer with deep scale, technology investment, and a broad institutional client base. While much larger than Midwest Loan Services, it competes in the same subservicing RFP pool against Midwest Loan Services for credit union, community bank, and institutional investor mandates.
- NewRez (a Rocket Companies business): NewRez (now part of Rocket Companies) provides residential mortgage servicing and subservicing alongside origination, serving institutional investors and banks. Comparable to Midwest Loan Services on the servicing operations side but with origination adjacency and parent-company scale that Midwest Loan Services — as a pure subservicer inside a regional bank — does not have.
- Select Portfolio Servicing (SPS): Select Portfolio Servicing is a large, investor-focused mortgage subservicer handling performing and non-performing residential loans for institutional clients and banks. Comparable to Midwest Loan Services in servicing and loss mitigation capabilities but at significantly larger scale and with a more institutional-investor tilt than Midwest Loan Services' community-bank-heavy mix.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Midwest Loan Services social profiles
Digital presenceMidwest Loan Services compliance and trust
Trust signalCompliance1 record
Midwest Loan Services financial estimates
Financial estimateRevenue estimate
Valuation estimate
Midwest Loan Services leadership team
Management profileNumber of profiles
Profiles7 records
Midwest Loan Services funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Midwest Loan Services M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Midwest Loan Services
What does Midwest Loan Services do?
Midwest Loan Services is a mortgage subservicer that administers mortgage and HELOC loans on behalf of Credit Unions, Community Banks, and other lenders/investors. Services include payment processing and collection, escrow management, borrower customer support, regulatory compliance management, loan modification and loss mitigation, default prevention, disaster assistance, and real-time reporting. The company services more than $35 billion in mortgage loans for over 300 community banks and credit unions nationwide.
Is Midwest Loan Services a public or private company?
Midwest Loan Services is a private company. It is classified as corporate owned and is currently operating.
When was Midwest Loan Services founded?
Midwest Loan Services was founded in 1994. It employs 1 to 10 people.
Where is Midwest Loan Services based?
Midwest Loan Services is headquartered in Hancock, United States, in the North America region.
How does Midwest Loan Services make money?
One revenue line is on record: mortgage Subservicing Fees.
Who are Midwest Loan Services's main competitors?
Direct peers on record are ServiceMac, BSI Financial Services, Specialized Loan Servicing (SLS), LoanCare (a Fidelity National Financial company), Cenlar FSB, Dovenmuehle Mortgage and Seterus (a Mr. Cooper company). Broad incumbents are Mr. Cooper, NewRez (a Rocket Companies business) and Select Portfolio Servicing (SPS).
Does Midwest Loan Services have an API?
No public API is recorded for Midwest Loan Services.
What industry is Midwest Loan Services in?
Midwest Loan Services's product category is Mortgage Subservicing. Its primary akta.pro industry code is FSALAEAD, Subservicing (Third-Party Servicing for Owners/Originators), with a secondary code of FSALAGAD, Home Equity Loan/HELOC Servicing & Subservicing. Its NAICS code is 5221 and its SIC code is 6162.