What are the three different codes that will prompt the setup rep to submit a request to the BK mailbox?
100
Acceptance of an amount less than the total amount due on the loan according to the legal agreements.
What is a SHORT SALE
100
This screen and step are used to Identify how close a property is to being foreclosed on.
What is FOR3, U20?
100
This information is provided to the Appraiser to schedule interior access to a property to complete a valuation.
What is Realtor/A3P Contact Information
100
These loans have no value and should never be setup for a liquidations review.
What is a Zero Balance Loan?
200
BNKN, NOTS, LMTN
What screens can you search to find out if the BK department has approved the liquidations setup?
200
A process in which the customer deeds or gives the property back to the bank rather than the bank foreclosing on the property.
What is a Deed In Lieu
200
This mailbox is used to request postponement for the following investors: ASC, HCS, and FHA (new review)
What is Milwaukee Postponement
200
An account with this on MIP1 will be required to have an Interior Appraisal Ordered
What is Mortgage or Pool Insurance
200
These accounts require no documents to be setup and can be identified by navigating to the MIP1 Screen and checking the RHS field for a CODE 50
What is a USDA account
300
BKRLossMitigationLiqSetup@wellsfargo.com
What is the email address where requests for approval to proceed with a liquidations setup can be sent?
300
These two documents are reviewed and validated only by the Property Address and Customer name to determine if the setup team has received proper documentation to proceed with a Short Sale setup
What is a Listing agreement and Purchase agreement?
300
This mailbox is used to request postponement for the following investors: FNMA, FHLMC, Wells Owned, Private and VA
What is Prime Liquidations Milwaukee
300
A valuation should not be placed on accounts in these two proc ID's used by the setup team.
What is HFA and DIL
300
SCRA loans require special log coding if letter codes, F, A, or P are Identified on this screen in the "MS Stat" field.
What is MSR1
400
This document is used to keep track of the BK Emails
What is the Bankruptcy Tracking Spreadsheet?
400
These are the two most common places to find a request for Short Sale and/or DIL review
What is a Hardship Letter and MSP Notes
400
This letter is generated manually when a request for postponement has been denied.
What is the HP033?
400
This screen is used to accurately find the complete address for a property
What is Mas1/ADD1
400
These have two parts and what you do to one you must do to the other.
What is a dual lien
500
These require attention 24-48 hours of receipt.
What is a Bankruptcy Response Email
500
This investor requires no documents for a DIL review and an Offer to Purchase prior to the setup of a Short Sale
What is VA?
500
If an account is in one of these two states and in this condition it should be manually activated only if an offer to purchase has been received.
What is a Redemption Account in MN or MI?
500
This type of Freddie Mac account's valuation must be ordred through PAS instead of SLA or BPO DIRECT and can be identified by navigating to DLQ1/INVE.
What is a Securitization Trust (T-DEAL, Freddie Mac Subprime, D24 or D63 Inve Code)
500
These loans are attached to legal proceedings and must be submitted to SRT mailbox for approval to proceed prior to liquidation setup. These loans can be identified on screens TSK1, TSK2 and SAF1