Universal Component Lender Services
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© 2026 Universal Component Lender Services · First Lien Capital
An introduction to First Lien leadership, a review of the default servicing UCLS has provided PeoplesBank since 2024, and plans for UCLS to continue its default advisory work, including deeper technology integration with Nymbus.
1068 Riverdale Street, West Springfield, MA 01089 · calswoodfiredgrill.com · Reservation confirmed. With select members of the PeoplesBank leadership team: introductions and an introduction to First Lien, UCLS's parent company.
330 Whitney Avenue, Holyoke, MA 01040 · 3rd Floor, Consumer Lending Conference Room. The UCLS default servicing team joins by Teams.
Collections and customer support, compliance and audit readiness, loss mitigation, bankruptcy, property inspections and maintenance, and default reporting. Servicing volumes and lessons learned.
Enhancement of the daily extract, automation of repetitive tasks, attorney engagement and monitoring, integration of PeoplesBank staff, a documented loss mitigation policy, and a review of the default reporting process.
How UCLS's Intelligent Default Resolution platform and the Loan Ranger asset management platform connect to the Nymbus core, a phased roadmap, and the security framework that governs every connection.
Term status of the MSA and SOW, what carries forward, and the shape of a renewed SOW that reflects PeoplesBank's needs today.
Confirm the working group, the calendar to signed agreements, and the first technology milestones.
Universal Component Lender Services joined the First Lien family of companies in 2026. UCLS remains UCLS: the same default servicing specialists, the same licensed debt collector, the same NMLS registration, the same contacts, the same contract. First Lien adds capital, technology and operating depth behind that team.
UCLS is a default servicing specialist and licensed debt collector, providing component and end-to-end default servicing to banks, credit unions, mortgage bankers and investors. First Lien Resolutions provides advisory, oversight and special-asset resolution. First Lien Capital acquires loans and provides liquidity to institutions. Together they form a vertically integrated platform for distressed and performing mortgage credit, with UCLS as PeoplesBank's contracted servicer and point of contact.
Thirty years in banking and mortgage servicing spanning default management, claims recovery and compliance, including servicing leadership at JPMorgan Chase and Marix. PeoplesBank's executive point of contact at UCLS since 2024 and signatory on the Vendor Information Security Addendum.
Thirty years in operations management and bankruptcy across court, client, law firm and servicer roles. Leads UCLS's default servicing operation, including call campaigns, call quality and compliance reviews and the vendor relationship, and is PeoplesBank's day-to-day operational contact for collections, loss mitigation, bankruptcy and reporting.
Twenty-eight years managing every functional area of mortgage default. Oversees and consults on loss mitigation and every level of investor compliance across the default process, and manages property inspections and vendor coordination.
Fifteen years in default mortgage servicing across foreclosure, bankruptcy, loss mitigation, property preservation and investor claims. Leads UCLS's loss mitigation function: borrower response packages, waterfall evaluation, workout documentation and timeline compliance.
Twenty years in distressed mortgage acquisition and resolution, including $1B+ of equity deployment across residential and small-balance commercial portfolios. Architect of the First Lien platform and author of two books on debt markets. Executive sponsor for the PeoplesBank relationship.
Erick Gonzalez (Portfolio Manager) leads field execution, property and REO through a national broker network. James Dooley (Capital Markets Director, 25+ years at WaMu and Barclays) supports valuation, hold/sell analysis and loan-sale execution. Carlos DeJesus (VP, Portfolio Management, 20+ years across portfolio management, servicing and loss mitigation) supports workout strategy and documentation.
PeoplesBank is an end-to-end default client of UCLS. Under the Default Operations SOW, UCLS took over collections, loss mitigation, bankruptcy, foreclosure administration, property preservation and claims for loans 15 or more days delinquent, and built the processes PeoplesBank now relies on.
Executed by Earl Cooper (SVP Legal, UCLS) on September 9 and Amber Coughlin (SVP Consumer Lending, PeoplesBank) on September 18, 2024. Two-year MSA term with annual auto-renewal; 24-month SOW term from the first loans serviced; $6,500 monthly minimum.
First delinquent loans assigned; daily extract file from PeoplesBank's servicing system to UCLS established.
Structured daily call campaigns, recorded and QA-reviewed calls, Mini-Miranda across calls and correspondence, loss mitigation correspondence library, waterfall calculator for PeoplesBank-owned loans, bankruptcy monitoring, investor-guideline inspection ordering, weekly progress reporting.
PeoplesBank becomes the largest U.S. community bank fully operating on a modern cloud-native core.
PeoplesBank's updated addendum (revision February 6, 2026) covering data protection, breach notification, subcontractor controls, data return and destruction, signed by Steve Paton. PeoplesBank countersignature to be confirmed.
First Lien Capital completes the UCLS acquisition.
Introduction of First Lien, two-year service review, renewal and technology roadmap. Target: renewed SOW signed before December 31, 2026.
| Volume | Oct 2025 – Sep 2026 | Notes and comments |
|---|---|---|
| Loans assigned to UCLS (15+ days delinquent) | 4,082 | Unique loans boarded under the SOW |
| Borrower contact attempts | 12,499 | |
| Loss mitigation workouts completed | 13 | Modifications |
| Bankruptcy | 15 | Notifications sent to PeoplesBank |
| Foreclosure | — | Foreclosures referred to a UCLS attorney |
| Inspections ordered | 100 | Investor cadence |
| Claims filed / dollars recovered | — | GSE, FHA, VA, USDA, MI |
| Complaints | 1 | Per SOW 3.4 and MSA 4.a.5 |
UCLS entered a default operation with limited structure and left it with recorded, QA-reviewed calls, a compliant correspondence library, a loss mitigation waterfall, and a weekly reporting rhythm. PeoplesBank staff are now inside the process through call monitoring. The operation absorbed the June 2025 core conversion without a service interruption.
Start with a richer daily extract and a documented loss mitigation policy on day one; both are on the proposed list for the renewal. Automate the repetitive tasks that today move through spreadsheets. Bring PeoplesBank's technology owner into the working group early so the Nymbus core becomes an asset for default operations rather than a system UCLS works around.
A $4.6 billion mutual community bank with a growing residential book, a Connecticut expansion, and the most modern core of any bank its size. Each of those raises the value of a disciplined, well-instrumented default operation.
| Balance sheet line (June 30, 2026) | $ thousands | Relevance to default operations |
|---|---|---|
| 1–4 family residential mortgages | 1,456,350 | Core of the Default Operations SOW; growing about $20M per quarter |
| Home equity lines of credit | 84,988 | Junior-lien collections and charge-off recovery |
| Consumer loans | 399,655 | Licensed debt collection capacity available under a separate SOW |
| Multifamily (5+ units) | 385,391 | Special servicing and receivership experience through First Lien Resolutions |
| Nonfarm nonresidential real estate | 841,857 | Commercial default protocols, guaranty enforcement, note-sale execution |
| Commercial and industrial | 312,716 | Workout advisory as needed |
| Allowance for credit losses | 21,439 | Net charge-offs of $3.7M in the first half of 2026 versus $1.7M in Q1 alone |
| Total deposits | 3,512,423 | Funding stability supports a hold-and-work strategy on troubled credits |
| Employees (full-time equivalent) | 372 | Default is a small function inside a 372-person bank; outsourcing keeps it examiner-ready without headcount |
The MSA self-renews. The SOW's term runs out in the coming months. We recommend executing a new Default Operations SOW for an additional 24 months, with refreshed scope and additional default services added as agreed upon.
| Instrument | Term and status | Key economics and terms | Renewal action |
|---|---|---|---|
| Master Services Agreement Executed Sept 18, 2024 |
Two-year initial term from execution, then automatic one-year renewals (Section 3.a). Now in its first renewal year. Either party may terminate for uncured material breach on 30 days' notice. | Invoices due in 15 days; liability capped at 12 months' fees; mutual indemnity for willful misconduct; 90-day transition assistance; E&O and cyber insurance of $1M per occurrence / $2M aggregate; non-solicitation of employees; assignment to an affiliate or successor without consent (Section 8.d); Connecticut law, Delaware courts. | Keep in force; refresh notice addresses and escalation contacts. |
| Default Operations SOW 24 months from first loans serviced |
Effective September 9, 2024; term runs 24 months from the first date loans were serviced, expiring at the end of 2026. | $6,500 monthly minimum. Per loan per month: $10 (15-day) to $45 (90+/120+), $45 loss mitigation, $60 foreclosure, $55 bankruptcy, $50 REO. Per-event fees for workouts and claims (schedule below). Third-party costs pass through. | Execute SOW No. 2 (Default Operations, 2027–2028) with scope and fees updated for the Nymbus environment and current volumes. |
| Vendor Information Security Addendum Rev. Feb 6, 2026 |
Signed by Steve Paton for UCLS on March 26, 2026; PeoplesBank countersignature to be confirmed. | Massachusetts 201 CMR 17.00 and GLBA alignment, breach notification, subcontractor flow-down, NIST SP 800-88 data destruction, PeoplesBank right to terminate on breach without penalty. | Countersign and attach to the MSA. Confirm UCLS's technology roadmap (IDR, Loan Ranger) against the addendum before integration work begins. |
| Default Advisory SOW Proposed |
New instrument under the existing MSA; 24 months to run with the operations SOW. | Retainer-based scope: loss mitigation policy, default reporting redesign, staff integration and training, automation and extract enhancement, IDR–Nymbus integration. | Draft for PeoplesBank review within two weeks of October 7. |
UCLS covers six default functions for a growing residential book at a cost measured against the staff, systems and oversight PeoplesBank would otherwise carry. Defaults reflect the current SOW; the in-house figures are placeholders for PeoplesBank's own salary and overhead assumptions. Change any input and the comparison recalculates.
The residential portfolio has grown about $20M a quarter and delinquencies move with the cycle. UCLS absorbs volume without a hiring decision, a training cycle or a system purchase on PeoplesBank's side.
Collections, loss mitigation, bankruptcy, foreclosure, property preservation and claims each carry their own rules, timelines and investor requirements. UCLS staffs all six with specialists and backup, a coverage no one or two hires can provide.
Recorded and reviewed calls, Mini-Miranda, investor-specific correspondence, timeline tracking and claim documentation are built into the workflow, so PeoplesBank's default file stands up to audit and examination without added internal effort.
| Current fee schedule (Default Operations SOW, Section 5) | Fee | Current fee schedule, continued | Fee |
|---|---|---|---|
| 15-day delinquent (per loan, per month) | $10 | Repayment plan: VA / USDA / Conv-private | $150 / $250 / $300 |
| 30-day delinquent | $20 | Short sale: FHA / VA / USDA / Conv-private | $500 / $700 / $500 / $1,500 |
| 60-day delinquent | $30 | Deed in lieu: FHA / VA / USDA / Conv-private | $500 / $500 / $500 / $1,000 |
| 90-day and 120+ day delinquent | $45 | Loan modification: FHA / VA / USDA / Conv-private | $250 / $500 / $1,000 / $1,000 |
| Loss mitigation (per loan, per month) | $45 | Payment deferral: VA / USDA / Conv-private | $150 / $250 / $300 |
| Foreclosure (per loan, per month) | $60 | FNMA/FHLMC conventional claim / with MI | $200 / $300 |
| Bankruptcy (per loan, per month) | $55 | FHA claim Part A / Part B / supplemental | $300 / $300 / $150 |
| REO (per loan, per month) | $50 | VA claim / supplemental; USDA claim | $450 / $150; $350 |
| Forbearance, partial claim, mod/partial-claim combo | Investor incentive | Third-party costs (attorneys, inspections, preservation) | Pass-through |
The current SOW makes UCLS the operator of six default functions for delinquent residential loans. The proposal is a standing advisory role across policy, reporting, legal oversight, technology and adjacent portfolios, with UCLS accountable for the whole default lifecycle and PeoplesBank staff integrated into it.
Enhancement of the existing daily extract file. Automation of repetitive tasks. Attorney engagement and monitoring. Integration of PeoplesBank staff into appropriate tasks, beginning with the call monitoring already under way. A comprehensive, documented loss mitigation policy. A review of the default reporting process with recommended changes. Integration of IDR with Nymbus. A new Statement of Work reflecting the current environment and needs.
| Capability | Status | What UCLS does | Outcome for PeoplesBank |
|---|---|---|---|
| Collections and borrower outreach | In SOW | Structured daily campaigns, recorded calls, Mini-Miranda, real-time notation | Compliant contact at scale without bank headcount |
| Loss mitigation | In SOW | Borrower response packages, evaluation, retention options, follow-up, file return | Higher cure and retention rates; timeline compliance |
| Bankruptcy | In SOW | Filing monitoring, notification and consultation today; proofs of claim, payment change notices and attorney management as PeoplesBank's bankruptcy referrals move under UCLS management | No missed deadlines, controlled post-petition costs |
| Foreclosure administration | In SOW | Commencement and administration, attorney network, litigation notice | Predictable timelines; PeoplesBank keeps attorney choice |
| Property preservation and REO | In SOW | Inspections, securing vacant property, preservation, REO disposition | Collateral protected; faster, better-priced dispositions |
| Claims | In SOW | Claim preparation, documentation and filing for GSE, FHA, VA, USDA and MI | Maximized recoveries |
| Loss mitigation policy | Proposed | Author and maintain a documented policy and procedure set for PeoplesBank-owned loans | Examiner-ready governance; consistent decisions |
| Default reporting redesign | Proposed | Review investor and internal reporting; rebuild on the Loan Ranger platform fed from Nymbus | One set of numbers for management, board and examiners |
| Attorney engagement and oversight | In SOW | Vet, engage and monitor foreclosure and bankruptcy counsel; audit fees against investor allowables | Lower legal spend; no unclaimable fees |
| Staff integration and training | Proposed | Embed PeoplesBank staff in call monitoring, QC and escalations; training curriculum | Institutional knowledge stays inside the bank |
| Automation and extract enhancement | Proposed | Enrich the daily extract; automate repetitive tasks through the IDR workflow engine | Fewer manual touches, faster cycle times |
| PeoplesBank access to UCLS's default servicing system | Proposed | Read-only or full access to IDR for PeoplesBank staff and a return data file to PeoplesBank, implemented once PeoplesBank's data storage is in place | Shared, current view of every delinquent loan |
| Claims curtailment prevention and missed reimbursements | Available | Milestone surveillance to avoid curtailment; recovery of reimbursements never claimed | Found money; protected claim proceeds |
| Servicing oversight, QC and audit | Available | Surveillance and examiner-ready QC of functions PeoplesBank retains or outsources elsewhere | Independent oversight for vendor management and examiners |
| Consumer and HELOC collections | Available | Licensed debt collection on the $400M consumer book and $85M HELOC book; charge-off recovery | Recoveries on portfolios outside the mortgage SOW |
| Commercial and multifamily special servicing | Available | Commercial default protocols, receivership, guaranty enforcement, note-sale execution through First Lien Resolutions | Resolution capacity for $1.2B of CRE and multifamily exposure |
| Liquidity and loan-sale execution | Available | First Lien Capital bids on assets UCLS cannot cure, or runs a competitive sale | An exit for every troubled credit |
| Affiliate coverage | Available | Extend the same default standards to Cornerstone Bank and Athol Savings Bank under PeoplesBancorp, MHC | Consistent standards across the holding company |
The UCLS default team runs component and end-to-end engagements for banks, credit unions and mortgage bankers and can absorb several times PeoplesBank's current assignment volume without a change in team or SLA. First Lien Resolutions adds field, legal and REO capacity in all fifty states.
UCLS never originates and First Lien never buys loans it advises on without PeoplesBank's written direction. Advisory and liquidity are separate conversations, with PeoplesBank in control of both.
Every workstream produces the documentation an examiner expects: recorded calls, timeline logs, policy, attorney fee audits, and loan-level reporting, delivered through systems PeoplesBank can inspect.
PeoplesBank made an early, public bet on a modern core. UCLS intends to be the default servicing layer that makes that bet pay off: IDR integrated with Nymbus, asset management and reporting through Loan Ranger, and every connection built to the governance PeoplesBank's security addendum requires.
UCLS's client portal and workflow engine: loan-level tasks, timelines, correspondence, AI default surveillance and predictive resolution paths, with read-only or full access for PeoplesBank staff.
The Asset Bridge™ Vendor Portal within IDR routes communication and tasks to attorneys, inspectors, preservation vendors and brokers. Every vendor action is logged against the loan and visible to PeoplesBank.
Primary workflow systemFirst Lien's full asset management platform. Loan Ranger communicates with accounting systems, servicer data, and secure document and asset data storage, and holds the loan-level record from boarding through resolution.
Its dashboards deliver portfolio status, roll rates, loss mitigation pipeline, exceptions and executive reporting for management, board and examiners. The proposed home for PeoplesBank's redesigned default reporting.
Asset management platformInternal UCLS system
UCLS's internal AI agent. Dr. SPOC holds the complete history of every file and advises the servicing team before and during each borrower conversation, so whoever picks up the phone acts as the single point of contact on that loan.
Borrowers experience one continuous, informed relationship. UCLS staff work from one set of facts under FDCPA-compliant decision logic and human supervision.
AI single point of contactExpand the daily extract from Nymbus (fields, payment history, contact data, investor codes); automate ingestion into IDR; retire spreadsheet hand-offs. Security review against the 2026 addendum.
Nymbus Connect or API feed for near-real-time delinquency status; UCLS call notes, loss mitigation status and attorney milestones written back to the Nymbus servicing record.
Loan-level asset records, accounting reconciliation and document storage synchronized with the core; redesigned default reporting for management, investors and examiners; PeoplesBank staff dashboards and QC views.
Dr. SPOC recommendations and IDR workflows execute through the Nymbus MCP server with per-tool permissions, human approval checkpoints and full audit logging: payment-plan setup, correspondence triggers, inspection ordering.
From the October 7 meeting to signed agreements, with mid-December as the outside date and most steps targeted for completion in November. The technology track starts in parallel.
| Week | Milestone | Owner | Status |
|---|---|---|---|
| Oct 7 | On-site leadership meeting in Holyoke; agreement on renewal path, advisory scope and technology working group | PeoplesBank leadership · Steve Paton · Bill Bymel | Scheduled |
| Oct 9 | Meeting summary and follow-up on PeoplesBank points of interest circulated | Steve Paton | Planned |
| Oct 21 | PeoplesBank clarification of services and joint efforts for 2027 | PeoplesBank | Planned |
| Oct 29 | Draft renewed Default Operations SOW (2027–2028) and Default Advisory SOW delivered for PeoplesBank review | Steve Paton · UCLS legal | Planned |
| October | Refreshed escalation contacts and insurance certificates delivered for PeoplesBank's vendor file; technology working group convened with PeoplesBank's technology owner, UCLS and First Lien engineering, with Nymbus joining once PeoplesBank authorizes the introduction | UCLS · First Lien | Planned |
| October – November | PeoplesBank comments on the SOWs; commercial terms agreed | PeoplesBank · UCLS | Planned |
| November | Enhanced daily extract specification approved; IDR ingestion in test | Technology working group | Planned |
| Mid-December | Outside date for execution of the SOWs and countersignature of the Vendor Information Security Addendum | PeoplesBank · UCLS | Outside date |
| January 2027 | Renewed term in effect; monthly KPI review continues under the new service levels | Janine Durham · PeoplesBank Consumer Lending | Planned |