Systems & Tasks
Customer Resolution agents complete the financial interview using CMS. Which system shows the missing documents letter?
What is Document Viewer?
A temporary pause or reduction in mortgage payments, usually granted during short-term hardship is called _________.
Forbearance
Accounts eligible for e-Signing the final modification agreement will be coded in MSP with EMLESN task code. True or False?
True
A customer may call and advise that their home has been affected by a natural disaster. When ONITY receives notice from FEMA, ONITY applies a ______ stop on the loan.
No Notice J - Disaster
For FNMA/FHLMC DIL, a customer may receive up to ______ for relocation assistance.
$3,000
Which comment code in NOTS indicates there are missing documents AFTER review of documents received from the customer?
REVDOC
A mortgage modification option that moves missed payments to the end of the loan term to avoid immediate repayment is called _________.
Deferral
What does plan 50 in DLQ2 indicate?
Final Modification Agreement is in Progress
Where do you transfer escalated calls regarding loss mitigation?
Customer Resolution TL
Some customer benefits of the Mortgage Release Program include what?
Which OPEN task indicates the loan modification agreement must be notarized?
MODREC
The purpose of a retention program is to bring the account to a current status. Which programs are included in ONITY® retention options?
Forbearance
Repayment Plan
Reinstatement
Loan Modification
There is a 15-day grace period during the trial plan for loan modifications. True or False?
False! There is no grace period during trial plans. The payment is due the first day of the month, and it must be received by the last day of the month or the plan will be broken.
What MSP screen shows the timeline of events related to resolutions?
LMT3
FNMA/FHLMC allowable payments to subordinate lienholders must not exceed _______ in aggregate.
$10,000
Which MSP screen shows the timeline of events related to resolutions?
LMT3
The trial plan is an agreement between ONITY Mortgage Services and the customer to accept a temporarily reduced payment amount and is generally for a ______ month term.
Three
Which task indicates there is a title defect during a modification trial plan?
TITLED
Which option allows the customer to voluntarily transfer ownership of the property to ONITY Mortgage in order to avoid foreclosure?
Deed in Lieu
Which option allows a customer to voluntarily transfer ownership to ONITY to avoid foreclosure?
Deed in Lieu
What task is raised when the customer wants to cancel the loss mitigation review?
LMDECL
If a customer's request for a loan modification is denied, the customer may be entitled to an appeal period which allows ____ days to submit an appeal with supporting documents.
14 or 30 (depends on state guidelines)
The final loan modification agreement is in process. What DLQ2 Plan Number indicates this status?
Plan 50
When the fair market value of a property is less than the total payoff amount, the customer may want to apply for a _________.
Short Sale
When the property's fair market value is less than the payoff amount, what alternative may be available?
Short Sale