RC_LA_CM_200.2 Exceptions Processing
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| Option | Price |
| Member | $50.00 |
| Non-Member | $100.00 |
Mortgage payments do not always follow a standard path. Borrowers may send more—or less—than what is due, pay fees separately, or submit payments without clear instructions. These irregular payments are known as payment exceptions, and they require special handling by the servicer to ensure accurate processing and compliance with investor and regulatory guidelines.
Exceptions Processing explains how servicers manage these non-standard payments. The course begins with how suspense (unapplied) funds are tracked and resolved. It then explores key exception types such as reversals, miscellaneous fees, refunds, escrow shortages and overages, and principal curtailments. The course concludes with a review of the steps involved in handling a loan payoff. Throughout the course, learners will examine realistic servicing scenarios and follow established procedures for properly allocating, refunding, or reversing funds when needed.
This is a single-family/residential course.
Topics:
Seat time approximately 1 hour.
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