Transcription of CHAPTER 18: SERVICING NON-PERFORMING LOANS – …
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CHAPTER 18: SERVICING NON-PERFORMING LOANS – …
HB-1-3555 18-1 (03-09-16) SPECIAL PN (03-09-16) SPECIAL PN Revised (07-02-18) PN 514 CHAPTER 18: SERVICING NON-PERFORMING LOANS ACCOUNTS with repayment PROBLEMS 7 CFR INTRODUCTION The servicer is required to employ an experienced and knowledgeable staff, follow accepted industry SERVICING practices, and maintain a SERVICING platform that keeps records of all SERVICING actions. Servicers are fully responsible for complying with this CHAPTER regardless of any sub- SERVICING arrangements. Appendix 8 of this Handbook outlines the servicer s responsibility to report to the Agency all delinquent LOANS and quarterly portfolio reports through EDI. When a loan becomes past due, the servicer must take prompt and aggressive action to help the borrower bring the account current.
CHAPTER 18: SERVICING NON-PERFORMING LOANS – ACCOUNTS WITH REPAYMENT PROBLEMS 7 CFR 3555.301 18.1 INTRODUCTION The servicer is required to employ an experienced and knowledgeable staff, follow ... Section 3 of this Chapter describes the requirements within the foreclosure process. Section 4 provides servicers with requirements when a
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