Escrow
Analysis Information
ANA1/LAST
B
BANKRUPTCY
I have already done some research and would like to obtain the appraisal on my own. Can I do this?
Federal laws and investor guidelines require the appraisal must be ordered by U.S. Bank.
Cushion (no greater than)
(1/6) of the estimated total annual disbursements from the escrow account.
Safe at Home (SAH)
Safe At Home (SAH) Address Confidentiality Programs (ACPs) allow victims of domestic violence, sexual assault, stalking or other types of crime to receive mail at a confidential address, while keeping their actual residential address (physical location) undisclosed and out of public records. (Never Change Address)
Spreading a Shortage Greater Than
N
WORKOUT-DFLT RESOLUT
How long does a BPO take?
Order for Broker's Price Opinion submitted within 3-5 business days of receiving request and fee. Broker schedules property viewing and prepares report, expected within 7-10 days. A copy of the report and a letter regarding PMI cancellation eligibility will be provided to the requester.
How long does a BPO take?
Order for Broker's Price Opinion submitted within 3-5 business days of receiving request and fee. Broker schedules property viewing and prepares report, expected within 7-10 days. A copy of the report and a letter regarding PMI cancellation eligibility will be provided to the requester.
Welcome Call Comment Code - Inbound
ZWCWVI – WELCOME CALL – VERIFIED / UPDATED CONTACT INFORMATION
Initiating an Escrow Account Steps
Steps for telephone request handling include checking loan due date, advising borrower to fax current bills/receipts, sending mail requests to U.S. Bank, informing about escrow items, noting borrower's requests in Task ID ESCINI, mentioning response time, no longer escrowing voluntary flood policies, and processing requests by Customer Service Research.
9
REPAYMENT PLAN
Who do I pay the BPO fee to?
The Broker’s Price Opinion fee is made payable to U.S. Bank Home Mortgage. Within the request, please include two contact numbers for the broker to contact you at to schedule the appointment to view the property. Please send your check and request to:
U.S. Bank Home Mortgage
Attention: PMI Department (CN-KY-FDIN)
P O Box 21948
Eagan, MN 55121-4201
Why is there a fee to waive escrow?
The escrow waiver fee is considered a reasonable servicing fee per the terms of the mortgage loan.
ZGQUEX
TRANSFER TO SENIOR REP
Pre-Paying Escrow Increase
When the borrower contacts Customer Service regarding pre-paying their escrow increase, the agent must review the account and quote an amount to prepay.
Accounts awaiting final modification documents and active in the Loss Mitigation process that were approved for HAMP trial plan:
Why do I have PMI?
PMI is required in many conventional loan programs when the borrower has a Loan to Value ratio greater than 80% at closing. PMI reduces the risks for the lender allowing for a loan at a higher Loan to Value ratio.
What is the process/next steps? How long does the process take to remove escrow?
ZEUPDA comment code
ZYECOP
BORROWER REQUEST DUPLICATE 1098 STATEMENT
Off-Cycle Analysis Task
The ESCPCH task is opened to request an off-cycle analysis and should take 10 business days to complete
Accounts awaiting final modification documents and active in the Loss Mitigation process that were approved for Non-HAMP trial plan
What is private mortgage insurance (PMI)?
Private mortgage insurance (PMI) is a type of insurance that protects the lender in the event a borrower defaults on their loan. PMI is usually required on most conventional mortgages when the down payment is less than 20% of the home's purchase price.
What address can the fee waiver/advance amount be mailed to?
U.S. Bank Home Mortgage
PO Box 790415
St. Louis, MO 63179-0415
ZSEDOC
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