Intake
Presale
Title
Bids
Post Sale
100
The document that is good for 6 months also known as the inital communication letter, that provides borrowers with the right to request validation of debt.
What is the fair debt letter?
100
This is the department that is responsible for completing the presale package.
What is the Foreclosure Team ?
100
This is the component that indicates that restituion is due to the state.
What is a DOJ lien
100
The bid type that does not include the attorney fees and cost.
What is specified bid ?
100
The document that all valid foreclosure must have regardless of the loan type
What is DUP ?
200
The automated search that is completed using the social of borrowers to determine if that are under automatic stay protection.
What is banko ?
200
The document that the attorney must review during the presale process.
What is the demand letter ?
200
This is where on the title worksheet you can locate the current owner- indicated what it means.
What is RTV- record title vessted ?
200
The place where the bidding instructions as wells as the bidding worksheet MUST be saved to in order for the bid to be considered completed.
What is Filenet ?
200
Documentable expression of the lender transferring ownership to the investor.
What is Special Warranty Deed?
300
The search that is conducted to ensure that Public Health Service and/or National Oceanic members are protected if they are "active duty."
What is DOD search/SCRA search?
300
The document that is used as your reference guide when completig a pre-sale package.
What is a security deed ?
300
True or False - I can verify all needed information for title proofing on the first page of a title exam known as the title worksheet- (explanation must accompany answer)
What is False- each document in the title exam must be examined on an individual basis to achieve accuracy.
300
The person responsible for valdiating the bid once it has been entered into filenet
What is the team lead
300
This was added in during the bid; hower two checks must be requested, name what the two checks are for.
What is intagible tax and the recording of the intangible tax?
400
The document that is ordered to determine if there is a completed chain from the original lender to the FITNO
What is title examination ?
400
True or False- The demand letter indicates that the borrower has 10 days to reinstate the loan
What is False ?
400
The document that would provide information regarding outstanding water bills as well as the map and parcel number.
What is tax report
400
True or False- Once you have calculated you bid and entered the number on the bid worksheet you have successfully completed the bid.
What is False- the questions that accompany the bid worksheet must be answered in order for the bid to be considered as completed.
400
If the deeds have already been sent to record and the recording team indicated that an addtional check is needed in the amount of 4 dollars- indicated what process should you follow and why.
What is expense the addtional four dollars as a loss because anyone expense on a seperate invoice that is under 5 dollar should be considered a loss at the invoice itself cost 5 dollars to submit.
500
Intake completes the follow except: *Fair Debt *Title Ordering *Assignment *Hud Occupancy Letter
What is Assignment ?
500
The client system and or referral must be used to verify this component regardless of what is listed in FMS
What is FITNO ?
500
True or False- If a document is not located on the title exam this is our last recourse of action and it is obvious that the document does not exist.
What is False- There are times where documents are not included in the title examination by a mistake; however the site known as GSCCCA is a tool that can be used to locate a document if it is recorded even if it not included in the title
500
The act of the lender requesting additonal money to cure debt one the foreclosure has taken place.
What is pursuing defiency?
500
The document that transfers the realestate tax.
What is PT-61 form ?
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