Money Movement
Whenever we are expecting funds, regardless of where they are coming from and via what means, this MUST be added to the loan.
What is the Escrow Funds Received event?
- Whether this is a refund from FB, collecting a shortage via wire, or collecting a shortage via ACH-- this must be added every time. It's one of the ways we track the movement of funds into and out of escrow.
When the informational DIQ shows a tax constant less than $0.40 on a loan, these are the steps that should be taken. (Must give at least 2 steps for full points.)
What are:
1. Verify tax information is correct (usually, taxes are exempt on these loans).
2. Verify EA grouping is correct (should be in the exception group).
3. Delete the incorrect tax constant.
4. Request a new EA (with explanation).