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Bankruptcy

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Bankruptcy Powered By Docstoc
					      Special WebEx Training
• Thank you for joining Mortgage Computer’s Special
  Bankruptcy WebEx Training.
• During the WebEx session, audio will be muted so
  as to not pick up distracting sounds.
• Following the presentation, audio will be available to
  respond to any questions.
• Make notes during the presentation of questions you
  may have.
• During the presentation, you have the capability of
  asking a question using the chat room.
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  What is

Bankruptcy?

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    Bankruptcy
holds off creditors
from further action.


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  The court agrees
and sets repayment
of past due payments
on mortgage loans.

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1. Payment date on loan
   is brought current.

2. Payment program
   for past due payments
   is scheduled.

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    The borrower now
   makes two payments:

1. Must make loan payment.

2. Must make bankruptcy
   scheduled payment.

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   Do not try work-around methods.

 You must know if the loan is current.

If the loan becomes delinquent, you can
    commence immediate foreclosure.

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       First of All

   How does a loan get
 flagged in Bankruptcy?

Legal Action Code of:
  59 – Chapter 12 Bankruptcy
  65 – Chapter 7 Bankruptcy
  66 – Chapter 11 Bankruptcy
  67 – Chapter 13 Bankruptcy
  69 – Bankruptcy Plan Confirmed
Servicing Menu




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Bankruptcy Menu




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Bankruptcy Index




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Bankruptcy Record




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Bankruptcy Recovery Ledger




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Bankruptcy History




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Bankruptcy Reports




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Bankruptcy Listing




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Bankruptcy Delinquency Report




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Exception Report




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      Add/Modify Letters




   This selection functions the same as the
Add/Modify Letters option in Customer Service.
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          Software Bugs

MC staff tests every SIR folder thoroughly.
However, the same as car manufacturers and
rockets to the moon, bugs seem to creep in.
Let MC know a bug exists.
MC appreciates knowing and will correct the
problem.

           Thank You
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~ END ~

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posted:5/16/2012
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