Affected Consumer definition
Examples of Affected Consumer in a sentence
Within 30 days after the Effective Date, the Servicer will send to each Affected Consumer, by first class U.S. mail, the Notice, consisting of (i) a copy of the Notice to Affected Consumers of Discontinuance of Billing and Collection, in the form of Exhibit A hereto, and (ii) an account statement reflecting an updated balance of $0 for each of the Affected Consumer’s Affected Loans, in the form of the sample Form of Zero Balance Account Statement attached hereto as Exhibit B.
The Servicer will prepare a list of all Affected Consumers whose Notices, after commercially reasonable efforts, were undeliverable, including, for each such Affected Consumer, his/her name and last known mailing address, email address and telephone number.
The Servicer will prepare a list of all Affected Consumers, which, for each Affected Consumer, will set forth his/her name, corresponding unique identifying loan number(s), last known contact information (mailing address, email address and telephone number), and Affected Loan balance(s) on the day prior to the Effective Date (broken down among principal, interest, fees and any other amount due and owing).
If any Notice sent pursuant to Section II.d above is returned as undeliverable, the Servicer, within 30 days of receiving the returned Notice, will use commercially reasonable efforts to obtain the Affected Consumer’s updated mailing address, and, if successful, then will re-send the Notice, containing the materials outlined in Section II.d above, to the Affected Consumer.
The Servicer will identify mailing addresses for the Affected Consumers by locating the most recently available postal address contained in the Servicer’s system of record for each Affected Consumer.