Processing a Partial Charge Off from Transfer to REO and then Back to Partial Charge Off

Processing a Partial Charge Off from Transfer to REO and then Back to Partial Charge Off

Status of loan changed to Transfer to REO, Customer realized they should have Performed a Partial Charge off first.

 


  1. In Servicing Director, select the Collections Module.

  2. Select Options.
  3. Select Foreclosure Charge off.
  4. In the Action field, select Return to Active Status.
  5. Select OK.
  6. Selection Options.
  7. Foreclosure Charge Off.
  8. Select Loan ID.
  9. Select Transfer to REO.
  10. Select Deed in Lieu in the Payoff Reason.
  11. Select the Charge off box.
  12. Keep the Date Inactive the same.
  13. Select the Post to GL box and enter the charge off amount.
  14. Select OK.
  15. Select Options.
  16. Select Foreclosure Charge Off.
  17. Select Loan ID.
  18. Select the Partial Charge off box.
  19. Select the Post to GL box.
  20. Enter the Partial Charge Off Amount (this will be the same amount as on the Foreclosure Charge off screen).
  21. Select OK.
  22. Select Options.
  23. Select Foreclosure Charge Off.
  24. Select Loan ID
  25. Select Transfer to REO.
  26. Select OK.

ArticleNumber:

000047001

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