RC_LA_CM_200.4 Types of Cash Movement
| Option | Price |
| Member | $50.00 |
| Non-Member | $100.00 |
When a borrower makes a mortgage payment, the servicer must apply the funds quickly and accurately to the appropriate accounts. This marks the start of the cashiering department’s role in mortgage servicing. How payments are applied—and how funds are moved—depends on the loan terms, investor guidelines, servicer policies, and the nature of the payment itself.
Types of Cash Movement examines how mortgage payment funds are handled once received by the servicer. It begins with the basics of cash movement and outlines the major cashiering tasks involved. From there, it explains how different loan types affect payment application, and how servicers handle errors through misapplication and bad check reversals. The course concludes with a discussion of investor remittance and the rules that govern the transfer of funds to investors.
This is a single-family/residential course.
Topics:
Seat time approximately 1 hour.
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