Standard File Codes – Delinquency Reporting Clause Samples

Standard File Codes – Delinquency Reporting. The Loss Mit Type field should show the approved Loss Mitigation Code as follows: · ASUM- Approved Assumption · BAP- Borrower Assistance Program · CO- Charge Off · DIL- Deed-in-Lieu · FFA- Formal Forbearance Agreement · MOD- Loan Modification · PRE- Pre-Sale · SS- Short Sale · MISC- Anything else approved by the PMI or Pool Insurer NOTE: ▇▇▇▇▇ Fargo Bank will accept alternative Loss Mitigation Types to those above, provided that they are consistent with industry standards. If Loss Mitigation Types other than those above are used, the Servicer must supply ▇▇▇▇▇ Fargo Bank with a description of each of the Loss Mitigation Types prior to sending the file. The Occupant Code field should show the current status of the property code as follows: · Mortgagor · Tenant · Unknown · Vacant The Property Condition field should show the last reported condition of the property as follows: · Damaged · Excellent · Fair · Gone · Good · Poor · Special Hazard · Unknown
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Standard File Codes – Delinquency Reporting. The Loss Mit Type field should show the approved Loss Mitigation Code as follows: · ASUM- Approved Assumption · BAP- Borrower Assistance Program · CO- Charge Off · DIL- Deed-in-Lieu · FFA- Formal Forbearance Agreement · MOD- Loan Modification · PRE- Pre-Sale · SS- Short Sale · MISC- Anything else approved by the PMI or Pool Insurer
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Standard File Codes – Delinquency Reporting. The Loss Mit Type field should show the approved Loss Mitigation Code as follows: · ASUM- Approved Assumption · BAP- Borrower Assistance Program · CO- Charge Off · DIL- Deed-in-Lieu · FFA- Formal Forbearance Agreement · MOD- Loan Modification · PRE- Pre-Sale · SS- Short Sale · MISC- Anything else approved by the PMI or Pool Insurer NOTE: ▇▇▇▇▇ Fargo Bank will accept alternative Loss Mitigation Types to those above, provided that they are consistent with industry standards. If Loss Mitigation Types other than those above are used, the Servicer must supply ▇▇▇▇▇ Fargo Bank with a description of each of the Loss Mitigation Types prior to sending the file. The Occupant Code field should show the current status of the property code as follows: · Mortgagor · Tenant · Unknown · Vacant The Property Condition field should show the last reported condition of the property as follows: · Damaged · Excellent · Fair · Gone · Good · Poor · Special Hazard · Unknown The FNMA Delinquent Reason Code field should show the Reason for Delinquency as follows: 001 FNMA-Death of principal mortgagor 002 FNMA-Illness of principal mortgagor 003 FNMA-Illness of mortgagor’s family member 004 FNMA-Death of mortgagor’s family member 005 FNMA-Marital difficulties 006 FNMA-Curtailment of income 007 FNMA-Excessive Obligation 008 FNMA-Abandonment of property 009 FNMA-Distant employee transfer 011 FNMA-Property problem 012 FNMA-Inability to sell property 013 FNMA-Inability to rent property 014 FNMA-Military Service 015 FNMA-Other 016 FNMA-Unemployment 017 FNMA-Business failure 019 FNMA-Casualty loss 022 FNMA-Energy environment costs 023 FNMA-Servicing problems 026 FNMA-Payment adjustment 027 FNMA-Payment dispute 029 FNMA-Transfer of ownership pending 030 FNMA-Fraud 031 FNMA-Unable to contact borrower INC FNMA-Incarceration The FNMA Delinquent Status Code field should show the Status of Default as follows: 09 Forbearance 17 Pre-foreclosure Sale Closing Plan Accepted 24 Government Seizure 26 Refinance 27 Assumption 28 Modification 29 Charge-Off 30 Third Party Sale 32 Military Indulgence 43 Foreclosure Started 44 Deed-in-Lieu Started 49 Assignment Completed 61 Second Lien Considerations 62 Veteran’s Affairs-No Bid 63 Veteran’s Affairs-Refund 64 Veteran’s Affairs-Buydown 65 Chapter 7 Bankruptcy 66 Chapter 11 Bankruptcy 67 Chapter 13 Bankruptcy The numbers on the 332 form correspond with the numbers listed below.
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Standard File Codes – Delinquency Reporting. The Loss Mit Type field should show the approved Loss Mitigation Code as follows:
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Standard File Codes – Delinquency Reporting. The Loss Mit Type field should show the approved Loss Mitigation Code as follows: ASUM- Approved Assumption BAP-Borrower Assistance Program CO- Charge Off DIL-Deed-in-Lieu FFA-Formal Forbearance Agreement MOD-Loan Modification PRE-Pre-Sale SS-Short Sale MISC-Anything else approved by the PMI or Pool Insurer NOTE: [________________________] will accept alternative Loss Mitigation Types to those above, provided that they are consistent with industry standards. If Loss Mitigation Types other than those above are used, the Servicer must supply [_____________] with a description of each of the Loss Mitigation Types prior to sending the file. The Occupant Code field should show the current status of the property code as follows: Mortgagor Tenant
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Standard File Codes – Delinquency Reporting. The Loss Mit Type field should show the approved Loss Mitigation Code as follows: o ASUM- Approved Assumption o BAP- Borrower Assistance Program o CO- Charge Off o DIL- Deed-in-Lieu o FFA- Formal Forbearance Agreement o MOD- Loan Modification o PRE- Pre-Sale o SS- Short Sale o MISC- Anything else approved by the PMI or Pool Insurer NOTE: ▇▇▇▇▇ Fargo Bank will accept alternative Loss Mitigation Types to those above, provided that they are consistent with industry standards. If Loss Mitigation Types other than those above are used, the Servicer must supply ▇▇▇▇▇ Fargo Bank with a description of each of the Loss Mitigation Types prior to sending the file. The Occupant Code field should show the current status of the property code as follows:
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Standard File Codes – Delinquency Reporting. The Loss Mit Type field should show the approved Loss Mitigation Code as follows: • ASUM- Approved Assumption • BAP- Borrower Assistance Program • CO- Charge Off • DIL- Deed-in-Lieu • FFA- Formal Forbearance Agreement • MOD- Loan Modification • PRE- Pre-Sale • SS- Short Sale • MISC- Anything else approved by the PMI or Pool Insurer NOTE: Wells Fargo Bank will accept alternative Loss Mitigation Types to those above, provided that ▇▇▇▇ are consistent with industry standards. If Loss Mitigation Types other than those above are used, the Servicer must supply Wells Fargo Bank with a description of each of the Loss Mitigation Types prior to sending the ▇▇▇▇. The Occupant Code field should show the current status of the property code as follows: • Mortgagor • Tenant • Unknown • Vacant The Property Condition field should show the last reported condition of the property as follows: • Excellent • Fair • Gone • Good • Poor • Special Hazard • Unknown EXHIBIT H-3 FORM OF REALIZED LOSS CALCULATION Calculation of Realized Loss/Gain Form 332– Instruction Sheet NOTE: Do not net or combine items. Show all expenses individually and all credits as separate line items. Claim packages are due on the remittance report date. Late submissions may result in claims not being passed until the following month. The Servicer is responsible to remit all funds pending loss approval and /or resolution of any disputed items.
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