NoteWorld Touts FirstAm Servicing Pact

NoteWorld Servicing Center, a servicer of seller-financed mortgages based in Tacoma, Wash., has announced a partnership with First American Title, Santa Ana, Calif., to provide specialized account servicing to First American's seller-carryback customers.Under the arrangement, NoteWorld said it will act as First American's exclusive accounting servicing division for buyers and sellers using seller-carrybacks to fund their property purchases. (A seller-carryback transaction, also known as seller financing, is one in which the seller acts as a full or partial lender and carries a loan on the property. If there is no third-party servicer, the buyer makes payments directly to the seller.) NoteWorld said the partnership will enable First American to offer online account information, pay-by-phone and pay-by-Web options, tax and insurance impounding, and "superior" customer service. The companies can be found online at http://www.noteworld.com and http://www.firstam.com.