What Does The Loan Type Value Represent in The Servicing Director SWBC Insurance Outsource Export
In the Servicing Director SWBC Insurance Outsource Export file, in position 398 of the output file, a single alpha character is exported as Loan Type.
What do these Loan Type values of A, B or C represent?
- A=First Mortgage
- B=Second Mortgage or Home Equity Loan
- C=Line of Credit
Environment:
Servicing Director SWBC Insurance Outsource Export
ArticleNumber:
000055274
Related Articles
Servicing Director SWBC Insurance Outsource Export's Record Selection Criteria
The Servicing Director SWBC Insurance Outsource Export event can be run to create an export file for SWBC (Southwest Business Corporation) that includes all insurance information for active loans that meet the criteria set up on the Outsource ...
Setting Up Servicing Director SWBC as an Outsourced Insurance Vendor
You can set up your system to use SWBC as an outsourced insurance vendor. Perform the following procedures in the order listed: Set up an Unknown insurance payee. If you receive insurance records with no insurance company information, the system will ...
Servicing Director Fannie Mae MI Discontinuance Export - Reporting Mortgage Insurance Discontinuance
Effective February 1, 2017 Fannie Mae will introduce the new transaction type 89 (Mortgage Insurance Discontinuance Record), reporting the termination or cancellation of mortgage insurance coverage for summary/detail reporting loans. Servicers must ...
Perform An EDI Hazard Insurance 4010 Export
You will need to use the EDI Hazard Insurance 4010 export to create a response file for an EDI Hazard Insurance 4010 import file received from a specific insurance company. Insurance records where the policy is escrowed, a premium was expected ...
Mortgage Insurance at Payoff
Servicing Director functions as follows regarding collection of Mortgage Insurance (MI) premiums at payoff: If the MI due date is more than a month after the payoff date, it collects no MI premiums. If the MI premiums are paid annually, it collects ...