Escrow
Within how many days are we required to process a credit memo to stay in compliance?
10
By what time does Finance need the processed and completed Mail Payment Batch report with the mail checks each day?
2pm
When the terms of a BK have not been met and the borrower did not qualify or meet the terms set forth for payback of their debts.
A Dismissed BK
What is it called when a lender agrees to let the homeowner sell their property for less than the amount due on the mortgage?
short sale
How many days notice are required to inform a borrower their escrow payment has changed?
45
Which of the Investors receives a weekly Remittance?
HHMJ
This motion is filed where a creditor can ask for permission to take certain collection actions against the borrower who filed BK
A stay relief motion or A motion for relief from automatic stay
What is it called to temporarily stop making payments on your mortgage?
Forbearance
Berea Fahe address?
319 oak street Berea, KY 40403
What city is in our current mortgagee clause?
Minneapolis
When setting up a New Loan when is the ideal last day to have it set up by?
15 days prior to the first due date
This protects the debtor who filed BK and stops creditors from attempting to collect debts until the BK has been completed
Automatic Stay
What is the document that is filed in public records as the official notice the property has been paid in full?
Lien Release
Who do we miss the most?
Hanna :)
What it the longest we can run an analysis shortage out for?
If a borrower makes a payment but is short, up to how much can be taken from Escrow to help assist in making the full regular monthly payment?
$5
The form used by the creditor that indicates the amount owed by the debtor on the date of filing bankruptcy
Proof of Claim
What is it called when the principal balance of a loan becomes due and payable?
Maturity Date
FAHE business hours?
M-Th 8am-5pm
Friday-8am-4pm
What does PMI stand for?
Private mortgage insurance
What entity do we use to process daily payments and manager our accounts?
Central Bank
What is it called when a lender agrees to let the homeowner sell their property for less than the amount due on the mortgage?
Short sale
Name some Loss Mitigation options?
Deed in Lieu, Forbearance, Repayment Plan, Short Sale, Loan Modification
What year was FAHE established?
1980