This process is responsible for handling the initial setup of loans where loss mitigation is being requested by the borrower.
What is the "Intake Process"
100
Although a short sale is an alternative to foreclosure, it still creates a negative impact on...
What is a "credit report."
100
The borrower conveys all interest of the real property to the mortgagee.
What is a Deed in Lieu?
100
You would update this system with intake and fee audit templates.
What is Homesaver?
100
Greensboro is in this county?
What is "Guilford?"
200
Fee audits are only required on these 2 chapters bankuptcy.
What are Chapters 11 & 13?
200
The unpaid balance of the short sale is considered an...
What is a "Deficiency?"
200
You must confirm this with the borrower before the property can be surrendered.
What is their "intent."
200
Update a Deed-in-Lieu in this tracking system.
What is SharePoint Tracker?
200
This stagecoach is known for great food, plays and entertainment.
What is the Barn Dinner Theater?
300
This loss mitigation option or solution involves a change to one or more contractural terms to bring the loan current and provide a more sustainable loan.
What is "Loan Modification."
300
The sale of a real estate property in which the sale of the property falls below the balance owed.
What is a "Short Sale."
300
You must obtain court approval or ___________approval to proceed with the Deed in Lieu process.
What is "Trustee" approval?
300
You can update a authorization letter template in Homesaver and also in this system.
What is LPS?
300
Greensboro, NC was established in this year.
What is 1808?
400
After a borrower has received a trial package, they must make three of these for the courts to grant an approval.
What are "Trial Period Payments."
400
A motion from the courts granting permission to short sale a property is required for active ________ in bankruptcy.
What is a "loan or mortgage."
400
When determining the intent to surrender the property--either the property is noting surrendered or it is greater than ______post petition delinquent.
What is 60 days?
400
Motions to Sell, Sanction & Compel is a part of this language.
What is RED Flag Language?
400
All Female college located here in Greensboro.
What is Bennett College?
500
These types of borrowers represent themselves and do not require an Attorney authorization.
What is "Pro Se."
500
This document must be updated in the Homesaver and LPS templates on a short sale.
What is a "Authorization Letter."
500
Loans in active bankruptcy must have court approval or be closed out of bankruptcy prior to completing this process?
What is a Deed in Lieu process?
500
You use this system to locate the filed or granted court approval.