So you need forbearance
What date does FHA, VA, USDA look at to determine how many months of forbearance their clients get?
6/30/2020
Once a financial package is submitted who handles it first?
PIT USER
This option involves paying the contractual monthly payment plus a little extra to catch up on missed payments
Repayment plan
What four screens can be used to find 3rd parties authorized on the clients account?
NBID, DBNI, NADD, MEM1
What is the task ID I would use if a client wants to extend their natural disaster (non-covid related) forbearance.
COLNDX
Which investors are cutting off their clients who have used at least 12 months on 12/31/2021 from utilizing further forbearance extensions?
FHA/VA/USDA/Portfolio
Once a client submits a financial package name at least one letter they will receive
Package acknowledgement letter, incomplete package letter, package complete letter
FHA and USDA
What does a CSII have to do if they want information printed out/sent to them?
Write a written request to the MSCR department
How do I send a Financial Package in MSP?
Contact code: LLM, Response: 008
What date does Fannie/Freddie use to determine how many months of fb their clients get?
2/28/2021
What should a client do once they make their last trial payment?
Continue to make their trial payment until modification documents are received.
Which investors offer a COVID-19 Payment Deferral?
Fannie, Freddie, Portfolio, Private, VA
Where could I see a copy of the third party authorization form sent in by a client?
LMS
False
Describe a trial period
A trial period is a 3 month period where the client is asked to pay X amount to prove they can afford the modification.
This post forbearance option extends the clients loan 40 years and results in a lower monthly payment.
Flex Modification
True or False: – payoff quotes can be given to anyone with verification of the client’s last 4 of the social security number whether they are listed on the loan or not
TRUE
What would be my contact, response and reason code if the Male listed on the account calls in and extends his forbearance?
020, 053 COV
What is the maximum amount of months can a client in a FEMA forbearance get?
12 months
What is a process X stop?
A no cash posting hold. (Client cannot make payments any other way than mailing it in)
This post forbearance option will extend the client loan either 10 or 30 years.
VA Disaster Modification
How long are verbal authorizations of third parties good for?
The duration of the call.
What log code should be used to have a clients documents expired documents reworked?
FFRWRK