Collateral
Something pledged as security for repayment of a loan.
What is collateral?
In the VA portal, when creating a ticket, you will select the ___________ in the "who do you identify as" section.
What is the Lender or Real Estate Professional option?
This Servicer system view is where the MERS transfer process begins.
What is the Servicer MERS Transfers Pipeline View?
This keyword must appear at the beginning of an email subject line when sending investor conditions for review, followed by the loan number, borrower last name, and cure-by date.
What is “INVESTOR SUSPENSE”?
Before shipping begins, this screen is generated under Tools and is used to review the full history of Loan Estimates and Closing Disclosures from oldest to most recent.
What is the Disclosure Tracking screen?
The group decides what is to be shipped in the collateral package.
What is the Investor?
The place where the insurer will input a request for a refund in the Forms section of Encompass.
What is the Refund Tracking screen?
Before logging into MERS, loans must be exported and sorted by these two Excel fields.
What are Broker Lender Name and Rate Lock Sell Investor Name?
If borrower documentation has not been received after 24 hours of no response, this department must be involved for escalation.
What is Processing?
This document extracted from the Compliance Report confirms the borrower agreed to receive disclosures electronically and must be saved in the eDisclosure Agreement folder.
What is the E‑Consent (Electronic Consent)?
Place where the package received date and collateral tracking notes are placed.
What is Collateral Tracking?
The box that needs to be marked if the amount of refund is less than $150.00.
What is the Manager Approved box?
This MERS option is selected when both servicing and beneficial rights are being transferred.
What is Create TOS/TOB?
All purchase clearing conditions must be worked the same day they are added to this screen, or an explanation must be emailed to Amanda Christian.
What is the PCL screen?
If the Mavent Compliance Report shows any fails instead of a pass, the shipper must take this action before proceeding.
What is escalating the issue to a manager for review?
The folder that the shipping Manifest, signed Allonges and UPS label is shared to.
What is Collateral-Daily Shipments folder.
For a VA Cash-Out Refinance, these disclosures must be provided to the Veteran within three business days of application and again at closing to demonstrate compliance.
What are the Net Tangible Benefit (NTB) disclosures?
When creating a TOS batch, this date field must be entered as the Transfer Date.
What is the PA date?
Team pipeline review meetings are held every Thursday and last this long.
What is 45 minutes?
This system determines whether a loan was underwritten in DU or LP and must be reviewed to confirm an approve/eligible or accept finding.
What is the AUS (DU or LP)?
After loan is purchased, transfer servicing and/or sub-servicing in___________.
What is Transfer to Partners in Snapdocs?
This VA form documents the report and certification of loan disbursement and must be included in the Full File Loan Review stacking order.
What is VA Form 26-1820, Report and Certification of Loan Disbursement?
After a successful transfer, this number must be recorded in Excel and saved in the MERS Daily Reports folder.
What is the MERS Batch number?
Before disputing investor-requested appraisal changes, you should verify this status or indicator in the Day 1 Certainty section of the AUS.
What is a green check mark or “Eligible” for appraisal rep and warrant?
When building the closing package, missing documents in the stacking template will appear highlighted in this color.
What is pink?