1.
when someone passes, they will leave their estate to a specific person
2.
For us to make a check payable to anyone besides the estate of the deceased borrower or co-borrower, they must be listed as
3.
When we endorse the check and send it back, this process is called __________.
4.
When we must deposit the check into the restricted escrow and reissue the funds back in disbursements, this process is called _______.
5.
How we determine loan status for non-BOA & non-USDA loans
6.
How we determine loan status for BOA & USDA loans
7.
Threshold for USDA is _______.
8.
Threshold for Everyone else is _______.
9.
The processing timeframes for the stamp and go process is ______ business days
10.
The processing timeframes for the monitored process is ______ business days
11.
For advance payments we need a check stub stating it’s an advance or a ____ from the insurance company stating the check is for an advance or partial payment.
12.
This is a digital version of a check
13.
We can hold live checks for up to ____ business days.
14.
If the claim was closed, but a new check is received, we must reopen the claim and create the task "________ _______ ________".
15.
If the borrower is not using the existing foundation, in addition to the normal documents, we will also need the
16.
Documents that show what has been paid for by the borrower out-of-pocket.
17.
Self-repairs are subject to _______ approval.
18.
_____, Electrical, and Plumbing cannot be self repairs.
19.
_______ can be submitted when the initial draw of funds is not enough money to get repairs started
20.
If a borrower has tried to deposit the claim check without our endorsement, the bank will be able to issue a _______ ______ of the check which must be physically mailed in to Loss Drafts for processing.
21.
This is a letter stating the borrower wants to use the funds to pay off the loan.
22.
A document from customer service needed to show how much is due to pay off the loan.
23.
For 2nd lien loans, we ______ the check and send it back.
24.
It takes ___ business day(s) for the W-9 to be verified.
25.
When a borrower advises they need to have a check reissued, we have to request a _____ ___.
26.
We should go back _____ weeks in communication history to understand what has happened on the claim.
27.
For delinquent loans, we release 1/4 up to _______, or the overage.
28.
For current loans, we release 1/3, _________, or the overage.
29.
When mortgage payments are made on time they are...
30.
When mortgage payments are past due they are…
31.
A W9 is needed for all banks when the loan is in…
