Loan Setup and Loan Docs
This can be found most commonly as an Exhibit to the Deed of Trust or Recorded UCC
What is the legal description of the collateral?
When a disbursement is ready for review, I do this to signal to the team that I am the one completing the review
What is "Liking" the message in our Teams chat
This is the number of months between a batch EA and the effective change date.
*Why is this important? Expand
The first thing you should check when you encounter a process you haven't done before, or one you haven't done in a while
What is the Job Aid folder?
When it's my day handling the email inbox, I add this to every message I handle.
What is my signature
AND (or, for answering purposes)
What is my color code
This is where you might find the projected tax amounts due-- oftentimes, it's more accurate and useful than last year's tax bills.
What is the Appraisal?
or
What is the Pro Forma?
The cutoff time for setting up any type of disbursement (for our group)
What is 3 o'clock?
This is how we track ongoing issues and tasks-- and needs to be checked daily, as Dana has been assigning specific ones to specific people :)
What is the Tax Event Listview?
If a job aid requires updates for any reason, this person should be the one to revise.
Who is the person who most often completes the task?
Also correct: Who is anyone?
Expand. :)
The number of borrower contacts we should try to include in any message-- with the asset manager copied, of course!
What is three
This tax authority has an EA grouping exception-- because its largest bills can be paid quarterly, some semiannually in July/January, and some annually in July.
What is New York City?
- expand on this!
These should be checked:
- that appropriate steps were taken to prevent fraud
- that they match the disbursement backup provided
- typos
What are wiring instructions?
It's how we track ongoing issues that are pending a resolution, or require us to check on something regularly
What is the Tax Event listview?
We get an email from a borrower saying they want to pay their taxes under protest. This is the job aid we'd follow to make sure we complete all necessary steps
What is the Appeals job aid?
When relating information to borrowers or lenders that involves loan terms, legal terminology, or any account outside tax/insurance escrow, this person should be the JLL representative.
Who is the Asset Manager?
If a question arises on a loan that closed/originated within the last 4 - 6 weeks, this colleague is the best person to reach out to for assistance
Who is the Closer?
This must be added for ALL incoming funds to an escrow account (for shortages or refunds; by wire, check, or ACH draft)
What is the Esc_Funds_Recd event?
If a question comes up about the tax setup or payments on a loan, these are three places you should look first for information
What are:
1. Loan notes in PLM
2. Loan events in PLM (both open and closed)
3. Loan message history on FB
This is the format we use to save files-- it's important so that our files remain organized in a way that others can find what they are looking for. Review job aids to be sure you're doing it correctly!
What is a naming convention?
It is best practice to use this for communication with FB, as opposed to an email sent to their general inbox
What is the Message system on loan and parcel pages on the FB site?