Periodic Statement Date of First Notice or Filing

Periodic Statement Date of First Notice or Filing

Notice of whether the servicer has made the first notice or filing required by applicable law for any judicial or non-judicial foreclosure process

 

The Date of First Notice or Filing will be disclosed on the Periodic Billing Statement after a Default Record and a Foreclosure Tracking Record is created in the Collections module.

 

  1. Open the Collections module.
  2. Select the appropriate loan.
  3. Select the Default button.
  4. Select New.
  5. Complete the New Default Screen.
  6. Select OK.
  7. When "Would you like to change the Status of this Loan?" appears, select yes/no which ever is applicable
  8. Select Foreclosure.
  9. Complete the Edit Foreclosure Tracking Screen.

 

The Date of First Notice or Filing will cause the information to be disclosed on the Periodic Billing Statement when the Foreclosure Status on the Edit Foreclosure Tracking screen is Active and the loan is more than 45 days delinquent when the Monthly Billing Statements Upd event is run.

 

ArticleNumber:

000053132