General Servicing
At what time should we be checking in with a client on hold?
1 minute 30 Seconds
The state requirement for Florida requires how many days that we can generate a payoff good through is...
up to 3 business days
What does the LTV% need to be at to request an AVM?
80% or less
True or False: Our Co-ops are only located in New York?
True
What 2 pieces of information should we be verifying on every single call?
Email & Phone Number
What work item/task do we set for a tax update?
Transfer to Cotality
The state requirement for Arizona requires how many days that we can generate a payoff good through is...
30-45 Days
What screen in Director 7 can we use to view the occupancy code for PMI removal?
MAS1/APR1
MAS1/GTE1
MAS1/GSE1
MAS1/GSE1
True or False: Escrow can be waived on FHA loans.
False
What is the current turn time for document requests?
5 Business Days
What do we set when a client requests to pay their shortage 90 days after the effective date?
ANAIND
Where can we see if we have received a wire transfer that has not been applied to the loan? (2 correct answers)
PMSG or Cash Pending Chip
True or False: If an AVM previously failed we cannot request a new AVM. Client would need to request a BPO.
False - Results can change daily and investors will update these changes as they come in
For a co-op payoff request for a refinance, we need to send which of the following?
Co-op request form
Payoff statement
Third Party Authorization Form
Co-op Request Form
What tag are we avoiding using for CBIs?
Didn't attempt transfer
What work item / task would you set when a client requests Lender Placed Taxes to be removed?
Tax Research: 1 Time Courtesy Tax Removal if 1) client has not had LPT in past 2) tax amount disbursed has been paid back to escrow with no negative balance 3) request must be submitted at least 1 month before the monthly payment is established.
Who determines if a payoff fee (to generate a payoff statement) can be assessed to a loan?
Rocket Mortgage determines if a fee is assessed ONLY if the state allows a fee to be charged
What state does not charge a BPO/Appraisal fee to remove PMI?
West Virginia
True or False: If the Co-op payoff is for a cash payoff, can we follow normal payoff process?
True
True or False Plus: We MUST wait 30 days from PIF date to issue a direct deposit? Plus what is the next step.
False, setting PIFACH if funds have not been sent or issuing direct deposit in PFA
When would we set ANASHG to remove a shortage instead of removing the bucket in the overage/shortage screen?
When the next payment due is the month prior to the effective payment change date. (EX: Payment change in October and loan is due for September)
The state requirement for Massachusetts or Illinois and active foreclosure requires how many days that we can generate a payoff good through is...
30-45 days or foreclosure date.
Can you request an AVM for an investment property?
No, AVMs can only be requested for primary residences.
True if all requirements are met