Call Log
Adjusting loan terms to make payments more affordable for distressed borrowers.
What is LMT - Los Mitigation Tool
This customer is given 3 to 6 months to make the agreed payments.
What is a Forbearance?.
The Bank pauses your obligation to make your payment by the first 5 days, prevents negative credit reporting.
What is late charges or Late Fees?
Our payment system that we process payment through has two names, Vantanex and this. The latter is the new name and what we need to be referring to it as.
What is Repay?
Copy of Mortgage & Conveyance documents are required by Lawfirm in order to proceed.
What is a Demand Letter?
This is read to the customer before
What is an MDS?
Adjusting loan terms to make payments more affordable for distressed borrowers.
What is LMT - Loss Mitigation Tool
All clients are able to be set up on the forbs except this one. They are not able to get any loss mit assistance over the phone.
What is Citadel?
Payments are applied automatically to your account on due date.
What is Auto Debit?
I am required to carry out evictions on the Bank's behalf.
Who is a Provost Marshall?
The bwr has a Freddie Mac loan type. This additional resource is to help them with assistance as well as information.
What is myhome?
This is provided to the customers twice a year once qualified.
What is a Payment Extension?
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What is a Payment Extension?
medical opinion regarding the cause of death based on the available information
What is Death Certificate?
Customers are given 30-180 days to Move
What is Vacant Possession?
When speaking with a bwr that is needing assistance, obtaining this allows us to know what options we have.
What is the RFD?
This form lets the bank know who is owed and the amount owed.
What is a Credit Bureau Report
Credit reporting will continue as this.
What is previously reported?
We have multiple ways for bwrs to make a payment. ATM Deposit, Payment Over the counter or this way through the mail.
What is a check?
Lawfirm applies for court hearing aftering this expires
What is an Affidavit?
We must achieve this on every call. Part of obtaining this is to get the RFD and occupancy status.
What is QRPC?
This is read to the customer before accepting an LMT
What is an MDS?
This forbs is only for those that have this type of hardship.
What is pandemic related hardship?
We can post date a payment for any day in the month that the bwr requests and they will post to the bwrs account on this day.
What is the next business day?
Expires 30 days after being issued.
What is Notice of Default.