Handle Request for Early Payback of Consumer Mortgage Loan Due to Sale of Property for Bank as Servicer
sd Handle Request for Early Payback of Consumer Mortgage Loan Due to Sale of Property for Bank as Servicer
:Session Dialogue
:Servicing Order
:Party Lifecycle
Management
:Mortgage Loan
Calculate Escrow Balance
Calculate Pay Off Balance
Monitor Incoming Funds
:Sales Product
Agreement
:Document Services
:Correspondence
:Payment Order
Handle Request for Early Payback of Consumer Mortgage Loan
Verify Borrower
Retrieve Details of Mortgage Loan
Confirm Early Payback with Customer
Close Mortgage Loan Servicing Account Early
Retrieve Penalty Interest Rate and Fees
This is the agreement with
the investor, which will hold
the conditions for the
individual accounts
Prepare Final Settlement Documents
Send Final Settlement Documents to Borrower and Notary and Investor
Receive Settlement Documents from Notary
Verify Correctness of Settlement Documents from Notary
Create Payment Order for Pricipal Amount and Interest
This will book into the
Direct Deposit Account
Create Payment Order for Balance of Escrow Account
Create Payment Order for Bank Fees and Charges
:Position Keeping
Deactivate Loan Servicing Account
:Financial Accounting
Set Account Status to Closed
Send Statement of Full Payback to Customer