RC_LA_CM_200.2 Exceptions Processing

1-5 CMB Points Education Intermediate Loan Administration & Servicing Residential Residential Certified Mortgage Servicer (RCMS) Self-Study Web-Based Courses
Share to
Option Price
Member $50.00
Non-Member $100.00

In an ideal mortgage payment situation, funds from a payment are applied directly to the different payment elements such as the principal, interest, escrow, and insurance accounts, and the whole process is very routine. Often, however, there are additional funds (and sometimes short funds) that must be applied to various accounts for a number of reasons. These irregular payments are referred to as exceptions and they are the subject of this course.

Exceptions Processing will discuss the various exceptions to regular mortgage payments and how they are processed. This course begins with an overview of exceptions payment processing and then provides instruction on specific exceptions processing situations. The course reviews the several instances where a mortgagor may either choose to, or be required to, increase the amount of a mortgage payment and the overall effect it has. It also discusses instances when a mortgagor, or a mortgagor's escrow account, may receive money back. Finally, the course discusses the steps involved in requesting, processing, and finalizing a mortgage payoff.

This is a single-family/residential course.


  • Unapplied/suspense funds
  • Reversals
  • Miscellaneous fees
  • Refunds
  • Additional and short escrow
  • Curtailments
  • Payoffs


    Seat time approximately 1.5 hours.

    Copyright 2024.