Completed Loan Modification Counseling Services Clause Samples

Completed Loan Modification Counseling Services. Agency shall perform the following loan modification counseling services: A. Assist Bank customer or customer group in understanding their options and in gathering all necessary information to complete loan modification request. B. Manage loan modification process until completion, including, as needed, assistance in preparing required documentation, communicating with Bank customer or customer group and the Bank, and obtaining required signatures and payment(s) to complete loan modification process. C. Customer or customer group completes a Bank loan modification. This requires that the Bank receive and process a completed and executed Modification Agreement, signed IRS form 4506-T and/or any other customer or customer group information needed to verify customer or customer group income and eligibility, and the first payment on the modified mortgage. The Bank will pay the Agency an additional $350.00 for completion of all of these defined counseling services leading to a completed Bank loan modification (as defined in C above) for each customer or customer group.