CC_S_207.2 System Processing in Commercial/Multifamily Servicing
MBA Member Price: $49.00
Nonmember Price: $79.00Purchase
This is a commercial/multifamily course.
Within every commercial/multifamily servicing organization, there are various operational duties that are essential to the successful management of loan portfolios. Servicing operations utilize servicing systems and other ancillary systems to board loans, issue billing statements, process payments, process modifications and various loan transactions, and service ARM loans. Of particular importance to the servicer is knowledge of the type of information the servicing systems require and the fields within the system where this information resides.
System Processing in CMF Servicing explores the fundamental concepts of system processing in commercial/multifamily mortgage servicing. First, the course describes the features of servicing systems. Next, it discusses the process of loan boarding, focusing on the fields and data that must be transferred, uploaded, and/or input into the servicing system. It then explores how billing statements are generated and payments are processed both manually and through use of a servicing system. From there, the course discusses system modifications and file maintenance, addressing the impact of loan document modifications and various loan transactions on the data in the servicing system. Finally, the course covers specific servicing system requirements of ARM loans.
Seat time approximately one (1) hour.