Contract for Repayment of Loan

Document Sample
Contract for Repayment of Loan Powered By Docstoc
					                                                          Delegated Loss Mitigation Report Definitions
  Delegated loss mitigation activity should be reported to PMI on a monthly basis using the template. A loan should be included on the report upon any NEW loss
  mitigation workout activity - e.g. Forbearance start date, HAMP trial period start date , payment plan start date, modification effective date (Official), pre-
  foreclosure close date, or DIL completion date. The new event only needs to be reported once.

  This reporting template is as of March 18, 2010 and is subject to change based on development of the parameters of loss mitigation programs. All information provided is
  considered certified as true and correct in all material ways by the party submitting the information who additionally acknowledges that the mortgage insurer is relying on the
  accuracy and completeness of the information.

                                                                                                                                                                   Required
                             Data Elements                       Definition                                                                                                   Format
                                                                                                                                                                     field
                             Primary Certificate Number          Primary certificate number                                                                      Yes (primary Numeric with 0 decimal places; 8
                                                                                                                                                                  loans only) digits

                             Pool Certificate Number             PMI Pool Certificate number, only applicable if certificate is a pool loan                       Yes (pool Numeric with 0 decimal places
                                                                                                                                                                 loans only)
                             Contract ID #                       PMI Pool Contract ID, only applicable if certificate is a pool loan                              Yes (pool Numeric with 0 decimal places
                                                                                                                                                                 loans only)
                             Workout Type                        Select from one of the following values:                                                           Yes      Text
                                                                 Forbearance
                                                                 Payment Plan
                                                                 Loan Modification
                                                                 Pre-Foreclosure Sale
                                                                 Deed-in-Lieu
                                                                 HomeSaver Advance (HSA)
                                                                 Select Forbearance when reporting the HAMP Trial Period
                             Workout Program Name                Select from one of the following values:                                                            Yes      Text
                                                                 HAMP - non-GSE
                                                                 FannieMae-Alt Mod
                                                                 FannieMae-HAMP
                                                                 FannieMae-PF Pilot
                                                                 FannieMae-PRP
     Common Fields (All
        Workouts)                                                FreddieMac-HAMP
                                                                 FreddieMac-HAMP Backup Mod
                                                                 FreddieMac-Cap-to-Reinstate Mod
                                                                 HAFA
                                                                 HomeSaver Advance (HSA)
                                                                 HomeSaver Forbearance (HSF)
                                                                 Other - Delinquent
                                                                 Other - Performing
                             Workout Effective Date              Date that workout was finalized/official (borrower signed documents, etc). For HAMP Trial           Yes      MM/DD/YYYY
                                                                 Period, Forbearance or Payment Plan use Start Date. May not be a future date.

                             Servicing Company Name                                                                                                                           Text
                             Servicer Loan Number                                                                                                                    Yes      Numeric or Text
                             Investor Name                                                                                                                                    Text
                             Investor Loan Number                                                                                                                             Text
                             Primary Borrower Name                                                                                                                            Text
                             Subject Property Street Address 1                                                                                                                Numeric or Text
                             Subject Property Street Address 2                                                                                                                Numeric or Text
                             Subject Property City                                                                                                                            Text
                             Subject Property State              State abbreviation - e.g. CA                                                                                 Text
                             Subject Property Zip Code                                                                                                                        Numeric or Text
                             Delinquent Amount                   Past due amount. Does not include late fees, etc. Required for all retention workouts.              Yes      Numeric with 2 decimal places
                                                                 Include decimal point only; do not include commas or dollar sign.
                             Reason for Delinquency (RFD)        Select from one of the following values:                                                                     Text
                                                                 Abandonment of Property
                                                                 Auto Repairs
                                                                 Bankruptcy
                                                                 Business Failure
                                                                 Casualty Loss
                                                                 Death of Borrower
                                                                 Death of Principal Mortgagor's Family Member
                                                                 Dissatisfied with property
                                                                 Energy / Environmental Cost
                                                                 Fraud
                                                                 Illness
                                                                 Inability to Rent Property
                                                                 Inability to Sell Property
    Add'l Info Required on                                       Incarceration
      Delinquent Loans                                           Individual Voluntary Arrangement
                                                                 Marital Problems
                                                                 Military Service
                                                                 Moved / Vacated
                                                                 Natural Disaster
                                                                 Other
                                                                 Over-Obligated
                                                                 Payment Adjustment
                                                                 Payment Dispute
                                                                 Property Problem
                                                                 Relationship Breakdown
                                                                 Servicing Problems
                                                                 Temporary Curtailment of Income
                                                                 Unable to Contact Borrower
                                                                 Unemployment
                             Borrower Cash Contribution Amount   Amount borrower is able to contribute to the workout transaction. Include decimal point only;       Yes      Numeric with 2 decimal places
                                                                 do not include commas or dollar sign.




cf589fda-3a36-4a2d-bb97-c712425f2e00.xls                                                                                                                                                        January 16, 2010
                                                         Delegated Loss Mitigation Report Definitions
  Delegated loss mitigation activity should be reported to PMI on a monthly basis using the template. A loan should be included on the report upon any NEW loss
  mitigation workout activity - e.g. Forbearance start date, HAMP trial period start date , payment plan start date, modification effective date (Official), pre-
  foreclosure close date, or DIL completion date. The new event only needs to be reported once.

  This reporting template is as of March 18, 2010 and is subject to change based on development of the parameters of loss mitigation programs. All information provided is
  considered certified as true and correct in all material ways by the party submitting the information who additionally acknowledges that the mortgage insurer is relying on the
  accuracy and completeness of the information.

                                                                                                                                                                  Required
                           Data Elements                         Definition                                                                                                  Format
                                                                                                                                                                    field
                           Monthly Payment                       Monthly payment under the forbearance, repayment plan, HAMP trial period. Include                           Numeric with 2 decimal places
                                                                 decimal point only; do not include commas or dollar sign.
     HAMP Trial Period,    Plan Term                             Number of installments under the forbearance, repayment plan, HAMP trial period                             Numeric with 0 decimal places
      Forbearance or
                           Start Date                            HAMP Trial Period, forbearance or repayment plan first payment due date under plan.                Yes      MM/DD/YYYY
     Repayment Plan**

                           End Date                              Last installment due date under the forbearance, repayment plan, HAMP trial period                          MM/DD/YYYY
                           Loan Delinquent (Y/N)                 Indicate whether or not the loan is currently delinquent.                                                   Text
                           New Note Executed (Y/N)               Indicate whether or not a new Note was executed in conjunction with the workout.                            Text
                           UPB after Workout                     Gross Unpaid Principal Balance after loan modification; this includes any deferred                 Yes      Numeric with 2 decimal places
                                                                 principal. Include decimal point only; do not include commas or dollar sign.

                           Total Capitalized $ Amount            Provide the dollar amount of any capitalization increasing the loan balance as part of the                  Numeric with 2 decimal places
                                                                 workout. Include decimal point only; do not include commas or dollar sign.
                           Deferred Principal Amount             Provide amount of principal forbearance granted as part of the modification. Include decimal       Yes      Numeric with 2 decimal places
                                                                 point only; do not include commas or dollar sign.
                           Principal Forgiveness                 Provide amount of principal forgiven as part of the modification. Include decimal point only;      Yes      Numeric with 2 decimal places
                                                                 do not include commas or dollar sign.
                           Old Rate %                            Interest rate of the loan immediately preceding the loan modification effective date                        Numeric with 3 decimal places
                           Current Rate %                        Interest rate of the loan as of the loan modification effective date                               Yes      Numeric with 3 decimal places
                           Modified Loan Type                    Select from one of the following values:                                                           Yes                   Text
                                                                 10/1 ARM
                                                                 15/1 ARM
     Loan Modification**
                                                                 3/1 ARM
                                                                 3/3 ARM
                                                                 5/1 ARM
                                                                 5+ Year ARM
                                                                 7/1 ARM
                                                                 ARM Pos. Am.
                                                                 Fixed Rate/Fixed Pmt
                                                                 Step Rate
                           ARM Cap per adjustment                If the modified loan is an ARM, enter the per adjustment Interest Rate Cap                                  Numeric with 3 decimal places
                           ARM Change Date                       If the modified loan is an ARM, enter the date of the first interest rate adjustment                        MM/DD/YYYY
                           NEW Term                              Number of remaining monthly payments due under the loan modification plan.                         Yes      Numeric with 0 decimal places
                           NEW Loan Maturity Date                Date the modified Loan matures.                                                                    Yes      MM/DD/YYYY
                           Interest Only?                        Does the modified loan have an interest only loan feature? Yes or No                                        Text
                           IO Term                               Term (in months) of interest-only payments under the modified loan                                          Numeric with 0 decimal places
                           Start Date                            1st payment due date under the modified terms of the loan (Official)                               Yes      MM/DD/YYYY
           Home            HSA Note Amount                       The amount of the HomeSaver advance as documented on the HSA Note.                                          Numeric with 2 decimal places
       Saver Advance       HSA 1st Payment Date                  Date of the first payment due on the HSA Note.                                                     Yes      MM/DD/YYYY
                           Pre-foreclosure Sale Closing Date     Date of pre-foreclosure sale (i.e. Close of Escrow). May not be a future date.                     Yes      MM/DD/YYYY
                                                                 Final sales price of pre-foreclosure sale. Include decimal point only; do not include commas
                           Pre-foreclosure Sale Purchase Price   or dollar sign.                                                                                    Yes      Numeric with 2 decimal places
                                                                 Equal to Sales Price less Closing Costs, Commissions and any other applicable fees.
                           Net Proceeds                          Include decimal point only; do not include commas or dollar sign.                                  Yes      Numeric with 2 decimal places

                                                                 Select from one of the following values:
                                                                 Appraisal
                                                                 AVM
                                                                 BPO
                                                                 BPO - Drive By
                                                                 BPI - Interior
                                                                 External
       Pre-foreclosure
                                                                 In House
      Sale/Short Sale**
                           Current Property Valuation Type       List Price                                                                                         Yes      Text

                                                                 Recent property value as determined by a Property Valuation (e.g. appraisal) conducted
                                                                 prior to the pre-foreclosure sale date of the Property, i.e. current Fair Market Value (FMV).
                           Current Property Value                Include decimal point only; do not include commas or dollar sign.                                  Yes      Numeric with 2 decimal places
                           Current Property Value Date           Date of recent Property Valuation                                                                  Yes      MM/DD/YYYY
                                                                 Estimated value of the property in current condition. Include decimal point only; do not
                           As Is Property Value                  include commas or dollar sign.                                                                     Yes      Numeric with 2 decimal places
                                                                 Estimated value of the property after all repairs are completed. Include decimal point only;
                           As Repaired Property Value            do not include commas or dollar sign.                                                              Yes      Numeric with 2 decimal places
                                                                 Amount of Pre-foreclosure promissory note. Include decimal point only; do not include
                           Promissory Note Amount                commas or dollar sign.                                                                                      Numeric with 2 decimal places
                           DIL Completion Date                   Date that the deed-in-lieu was completed. May not be a future date.                                Yes      MM/DD/YYYY
                                                                 Recent property value as determined by a Property Valuation (e.g. appraisal) conducted
                                                                 prior to the Deed-in-Lieu date of the Property, i.e. current Fair Market Value (FMV). Include
                           Current Property Value (BPO)          decimal point only; do not include commas or dollar sign.                                                   Numeric with 2 decimal places
                           Current Property Value Date           Date of Broker’s Price Opinion (BPO) or Appraisal                                                           MM/DD/YYYY
       Deed-in-Lieu**
                                                                 Current listing price of property after DIL. Include decimal point only; do not include commas
                           Property Listing Price                or dollar sign.                                                                                             Numeric with 2 decimal places
                           Property Listing Date                 Dated property was listed after DIL                                                                         MM/DD/YYYY
                                                                 Amount of Deed-In-Lieu promissory note. Include decimal point only; do not include
                           Promissory Note Amount                commas or dollar sign.                                                                                      Numeric with 2 decimal places


  ** Requires PMI approval unless servicer has delegated authority for this workout type

        Send encrypted report to:                                workouts@pmigroup.com
                                                                 or via other established secure channel.
        Phone:                                                   800.685.4764
        Website:                                                 http://www.pmi-us.com/servicers/
cf589fda-3a36-4a2d-bb97-c712425f2e00.xls                                                                                                                                                     January 16, 2010
                                                                                                                                                                                                         Additional Information Required on      HAMP Trial Period, Forbearance Plan or Repayment
                                                                                        Common Fields (All Workouts)                                                                                             Delinquent Loans                                      Plan**                                                                                                                Loan Modification**                                                                                            HomeSaver Advance                                               Pre-foreclosure Sale/Short Sale**                                                                    Deed-in-Lieu**
PMI           Pool          Contract ID # * Workout   Workout   Workout     Servicing     Servicer     Investor    Investor   Primary    Subject     Subject     Subject       Subject    Subject      Delinquent    Reason for Borrower         Monthly     Plan Term    Start Date * End Date   Loan         New Note   UPB after   Total         Deferred    Principal     Old Rate %   Current Rate Modified      ARM Cap      ARM Change New Term *   NEW Loan   Interest   IO Term   Start Date *   HSA Note   HSA 1st                   Pre-
Certificate   Certificate                   Type *    Program   Effective   Company       Loan         Name        Loan       Borrower   Property    Property    Property City Property   Property Zip Amount *      Delinquency Cash            Payment                                          Delinquent   Executed   Workout *   Capitalized $ Principal   Forgiveness                %*           Loan Type *   per          Date                    Maturity   Only?                               Amount     Payment    Pre-           foreclosure               Current
Number*       Number *                                Name *    Date *      Name          Number *                 Number     Name       Street      Street                    State      Code                       (RFD)        Contribution                                                    (Y/N)        (Y/N)                  Amount        Amount *    Amount*                                               adjustment                           Date *                                                    Date *     foreclosure    Sale                      Property     Current      Current       As Is      As Repaired             DIL         Current     Current
                                                                                                                                         Address 1   Address 2                                                                    Amount *                                                                                                                                                                                                                                                                                      Sale Closing   Purchase      Net         Valuation    Property     Property      Property   Property    Promissory Completion   Property    Property     Property      Property       Promissory
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                Date *         Price*        Proceeds*   Type*        Value*       Value Date*   Value*     Value*      Note Amount Date *      Value (BPO) Value Date   Listing Price Listing Date   Note Amount
                                                        Description of Changes ( 1/16/10) - Version 8
Column #            Data Element                                              Before                                                                 After
    A      Primary Certificate Number                                                                           Primary certificate number
    B      Pool Certificate Number                                                                              PMI Pool Certificate number, only applicable if certificate is a pool loan
    C      Contract ID #                       Contract ID # for pool loans                                     PMI Pool Contract ID, only applicable if certificate is a pool loan
    D      Workout Type                        Forbearance, Payment plan, Loan Modification, Pre-foreclosure Select from one of the following values:
                                               Sale, Deed-in-Lieu or HomeSaver Advance. Select               Forbearance
                                               Forbearance when reporting the HAMP Trial Period.
                                                                                                             Payment Plan
                                                                                                                Loan Modification
                                                                                                                Pre-Foreclosure Sale
                                                                                                                Deed-in-Lieu
                                                                                                                HomeSaver Advance (HSA)
                                                                                                                Select Forbearance when reporting the HAMP Trial Period
    F      Workout Effective Date              Workout Close Date                                               Workout Effective Date
    F      Workout Effective Date              Date that workout was finalized/official (borrower signed        Date that workout was finalized/official (borrower signed documents, etc).
                                               documents, etc). For HAMP Trial Period, Forbearance or           For HAMP Trial Period, Forbearance or Payment Plan use Start Date. May
                                               Payment Plans use Start Date.                                    not be a future date.
    Q      Delinquent Amount                   Past due amount. Does not include late fees, etc. Required for   Past due amount. Does not include late fees, etc. Required for all retention
                                               all retention workouts.                                          workouts. Include decimal point only; do not include commas or dollar sign.

    R      Reason for Delinquency (RFD)        See RFD values shown on the List tab or in the drop-down         Select from one of the following values:
                                               menu on the Template. Required for delinquent loan workouts      Abandonment of Property
                                               only.
                                                                                                                Auto Repairs
                                                                                                                Bankruptcy
                                                                                                                Business Failure
                                                                                                                Casualty Loss
                                                                                                                Death of Borrower
                                                                                                                Death of Principal Mortgagor's Family Member
                                                                                                                Dissatisfied with property
                                                                                                                Energy / Environmental Cost
                                                                                                                Fraud
                                                                                                                Illness
                                                                                                                Inability to Rent Property
                                                                                                                Inability to Sell Property
                                                                                                                Incarceration
                                                                                                                Individual Voluntary Arrangement
                                                                                                                Marital Problems
                                                                                                                Military Service
                                                                                                                Moved / Vacated
                                                                                                                Natural Disaster
                                                                                                                Other
                                                                                                                Over-Obligated
                                                                                                                Payment Adjustment
                                                                                                                Payment Dispute
                                                                                                                Property Problem
                                                                                                                Relationship Breakdown
                                                                                                                Servicing Problems
                                                                                                                Temporary Curtailment of Income
                                                                                                                Unable to Contact Borrower
                                                                                                                Unemployment
    S      Borrower Cash Contribution Amount Amount borrower is able to contribute to the workout transaction Amount borrower is able to contribute to the workout transaction. Include
                                                                                                              decimal point only; do not include commas or dollar sign.
    T      Monthly Payment                   Monthly payment under the forbearance or repayment plan          Monthly payment under the forbearance, repayment plan, HAMP trial period.
                                                                                                              Include decimal point only; do not include commas or dollar sign.

    Z      UPB after Workout                   Unpaid Principal Balance after loan modification. For HAMP this Gross Unpaid Principal Balance after loan modification; this includes any
                                               includes any deferred principal (Gross UPB).                    deferred principal. Include decimal point only; do not include commas or
                                                                                                               dollar sign.
    AB     Deferred Principal Amount           Provide amount of principal forbearance granted as part of the   Provide amount of principal forbearance granted as part of the modification.
                                               modification.                                                    Include decimal point only; do not include commas or dollar sign.

    AE     Modified Loan Type                  See Loan Type values shown on the List tab or in the drop-down Select from one of the following values:
                                               menu on the Template.                                          10/1 ARM
                                                                                                                15/1 ARM
                                                                                                                3/1 ARM
                                                                                                                3/3 ARM
                                                                                                                5/1 ARM
                                                                                                                5+ Year ARM
                                                                                                                7/1 ARM
                                                                                                                ARM Pos. Am.
                                                                                                                Fixed Rate/Fixed Pmt
                                                                                                                Step Rate




cf589fda-3a36-4a2d-bb97-c712425f2e00.xls                                                                                                                                    January 16, 2010
                                                          Description of Changes ( 1/16/10) - Version 8
Column #             Data Element                                              Before                                                                  After
    AU     As Is Property Value                                                                                    As Is Property Value
    AV     As Repaired Property Value                                                                              As Repaired Property Value
    AR     Current Property Valuation Type                                                                         Current Property Valuation Type
    AQ     Net Proceeds                                                                                            Net Proceeds
    AO     Pre-foreclosure Sale Closing Date    Date of pre-foreclosure sale
                                                                                                                   Date of pre-foreclosure sale (i.e. Close of Escrow). May not be a future date.
    AP     Pre-foreclosure Sale Purchase Price Final sales price of pre-foreclosure sale                           Final sales price of pre-foreclosure sale. Include decimal point only; do not
                                                                                                                   include commas or dollar sign.
    AQ     Net Proceeds                                                                                            Equal to Sales Price less Closing Costs, Commissions and any other
                                                                                                                   applicable fees. Include decimal point only; do not include commas or dollar
                                                                                                                   sign.
    AR     Current Property Valuation Type
                                                                                                                   Select from one of the following values:
                                                                                                                   Appraisal
                                                                                                                   AVM
                                                                                                                   BPO
                                                                                                                   BPO - Drive By
                                                                                                                   BPI - Interior
                                                                                                                   External
                                                                                                                   In House
                                                                                                                   List Price
    AS     Current Property Value               Current Property Value (BPO)                                       Current Property Value
    AS     Current Property Value               Broker’s Price Opinion (BPO) or Appraisal prior to the pre-        Recent property value as determined by a Property Valuation (e.g. appraisal)
                                                foreclosure sale date to determine the current Fair Market Value   conducted prior to the pre-foreclosure sale date of the Property, i.e. current
                                                (FMV) of the Property                                              Fair Market Value (FMV). Include decimal point only; do not include commas
                                                                                                                   or dollar sign.
    AT     Current Property Value Date          Date of Broker’s Price Opinion (BPO) or Appraisal                  Date of recent Property Valuation
    AU     As Is Property Value                                                                                    Estimated value of the property in current condition. Include decimal point
                                                                                                                   only; do not include commas or dollar sign.
    AV     As Repaired Property Value                                                                              Estimated value of the property after all repairs are completed. Include
                                                                                                                   decimal point only; do not include commas or dollar sign.
   AW      Promissory Note Amount               Amount of Pre-foreclosure promissory note                          Amount of Pre-foreclosure promissory note. Include decimal point only; do
                                                                                                                   not include commas or dollar sign.
    AY     DIL Current Property Value (BPO)     Broker’s Price Opinion (BPO) or Appraisal prior to the           Recent property value as determined by a Property Valuation (e.g. appraisal)
                                                foreclosure sale date to determine the current Fair Market Value conducted prior to the Deed-in-Lieu date of the Property, i.e. current Fair
                                                (FMV) of the Property                                            Market Value (FMV). Include decimal point only; do not include commas or
                                                                                                                 dollar sign.
    BA     DIL Property Listing Price           Current listing price of property after DIL                      Current listing price of property after DIL. Include decimal point only; do not
                                                                                                                 include commas or dollar sign.
    BC     DIL Promissory Note Amount           Amount of Deed-In-Lieu promissory note                           Amount of Deed-In-Lieu promissory note. Include decimal point only; do not
                                                                                                                 include commas or dollar sign.



                                                           Description of Changes (3/18/10) - Version 9
Column #          Data Element                                                 Before                                                                  After
    E         Workout Program Name              Home Affordable Modification - non-GSE                             HAMP - non-GSE
                                                                                                                   FannieMae-Alt Mod
                                                FNM-HMP                                                            FannieMae-HAMP
                                                                                                                   FannieMae-PF Pilot
                                                PRP                                                                FannieMae-PRP
                                                FRE-HMP                                                            FreddieMac-HAMP
                                                                                                                   HAFA
                                                HomeSaver Advance (HSA)                                            HomeSaver Advance (HSA)
                                                HomeSaver Forbearance (HSF)                                        HomeSaver Forbearance (HSF)
                                                Other - Delinquent                                                 Other - Delinquent
                                                Other - Performing                                                 Other - Performing
   AC      Principal Forgiveness                                                                                   Inserted Principal Forgiveness Amount and shifted all data
           Amount                               Not in the template                                                elements to the right.




cf589fda-3a36-4a2d-bb97-c712425f2e00.xls                                                                                                                                    January 16, 2010

				
DOCUMENT INFO
Description: Contract for Repayment of Loan document sample