Show:
LoanCare Overview & Structure
Loan Conversions/Document Control
Cashiering
Mortgage Servicing/ Compliance
General Mortgage Knowledged and Mortgage Life Cycle
100
Who is LoanCare's CEO?
Who is Dave Worrall?
100
RESPA requires the servicer to notify the borrower _____ days prior to the effective date of a servicing transfer.
What is 15 days.
100
Payments must be processed within ____ hours of receipt.
What is 24 hours?
100
What are two examples of NPI?
What is:  Social Security numbers, addresses, phone numbers, financial transactions, account numbers.
100
What is a mortgage?
What is an agreement between a borrower and a lender in which the borrower conveys an interest in a property to the lender as security for a loan?
200
Who is LoanCare's Parenting Company? 
Who is Fidelity National Financial?
200
A customer's loan is scheduled to leave LoanCare on 9/1/18. Which department is responsible for sending the goodbye letter to the customer?
Who is Service Release?
200
What standard elements make up a payment?
What is principal, interest, taxes and insurance?
200
True or False:  The GLBA does not apply to LoanCare.
What is False.
200
Who makes up the Primary Market?
Who is those who make up and market mortgages?
300
LoanCare has 6 Corporate Precepts, name 2.
What is: 

Autonomy and Entrepreneurship

Bias for Action

Customer- Oriented and Motivated

Minimize Bureaucracy

Employee Ownership

Highest Standard of Conduct


300
Which document lists all of the actual closing costs?
What is the closing disclosure (HUD1)?
300
Per LoanCare's payment logic, after a customer's payment (PITI), what is the first item excess funds are applied to?
What are late fees.
300
What is the CFPB?
What is:  Consumer Financial Protection Bureau tasked with protecting consumers from unfair, deceptive, or abusive practices and takes action against companies that break the law.
300
Describe "subservicing".
What is the transferring of the servicing of a loan portfolio to a third party on a contract basis?
400
In your own words what is LoanCare's Mission & Vision?
What is: Anticipate customer and client needs and meet and exceed those needs.
400
Which team would coordinate with the courts after a mortgage has been satisfied or paid-in-full?
Who is Lien Release?
400
What is the purpose of a suspense account?
What is an account to hold funds that cannot be applied to the loan.
400
What law was put in place to prevent debt collectors from using unfair, deceptive and harassing practicies in their collection efforts?
What is Fair Debt Collection Practices Act (FDCPA)?
400
Which document lists all of the terms of the repayment of the loan?
What is the note?
500
LoanCare has 7 Guiding Principles, name 3.
What is:

Respect for all individuals

Safety and Security

Continuous Improvement

Active Positive Leadership

Effective Communication

Community Involvement

Preserve the Environment

500
What is the name of the electronic registry that tracks servicing rights and ownership of mortgages?
What is Mortgage Electronic Registration System (MERS)?
500
A _________________________ is a complete schedule of the period loan payments, showing principal and interest that comprise each payment.
What is a amortization schedule?
500
How often do we need to complete compliance courses at LoanCare?
What is annually?
500
What are the for phases in the Loan Production life cycle?
What is origination, processing, underwriting and closing.