Docstoc

Promissory Note Template Interest

Document Sample
Promissory Note Template Interest 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 January 16, 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
                                                                   Home Affordable Modification - non-GSE
                                                                   FNM-HMP
                                                                   FRE-HMP
                                                                   HomeSaver Advance (HSA)
       Common Fields (All
                                                                   HomeSaver Forbearance (HSF)
          Workouts)
                                                                   PRP
                                                                   Other - Delinquent
                                                                   Other - Performing
                               Workout Effective Date              HAMP Trial Period, Forbearance or Payment Plan - Start Date (1st payment date under plan)            Yes      MM/DD/YYYY
                                                                   Loan Modification - Date where workout was finalized/official (borrower signed documents,
                                                                   etc).
                                                                   Pre-Foreclosure Sale - Closing Date (Date of Escrow)
                                                                   Deed-in-Lieu - DIL completion 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. Include       Yes      Numeric with 2 decimal places
                                                                   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.




be3cba03-38c5-48c5-96cd-bb252dabf853.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 January 16, 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 decimal                 Numeric with 2 decimal places
                                                                   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
                             Gross Modified UPB                    Gross Unpaid Principal Balance after loan modification; this includes any deferred               Yes      Numeric with 2 decimal places
                                                                   principal, i.e. Gross Modified UPB = Amortizing Modified UPB + Deferred Principal Amount.
                                                                   Include decimal point only; do not include commas or dollar sign.

                             Net Modified UPB                      The unpaid principal balance of a loan after the loan modification excluding any deferred        Yes      Numeric with 2 decimal places
                                                                   principal; can also be referred to as Amortizing Modified UPB Amount.
                             Deferred Principal Amount             Provide amount of principal forbearance granted as part of the modification.                     Yes      Numeric with 2 decimal places
                                                                   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.
                             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
       Loan Modification**                                         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
                             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.
                             Pre-foreclosure Sale Purchase Price   Include decimal point only; do not include commas or dollar sign.                                Yes      Numeric with 2 decimal places
                                                                   Equal to Sales Price less Closing Costs, Commissions and any other applicable fees. Include
                             Net Proceeds                          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.
                             As Is Property Value                  Include decimal point only; do not include commas or dollar sign.                                Yes      Numeric with 2 decimal places
                                                                   Estimated value of the property after all repairs are completed.
                             As Repaired Property Value            Include decimal point only; do not include commas or dollar sign.                                Yes      Numeric with 2 decimal places
                                                                   Amount of Pre-foreclosure promissory note.
                             Promissory Note Amount                Include decimal point only; do not include 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).
                             Current Property Value (BPO)          Include decimal point only; do not include commas or dollar sign.                                         Numeric with 2 decimal places
          Deed-in-Lieu**     Current Property Value Date           Date of Broker’s Price Opinion (BPO) or Appraisal                                                         MM/DD/YYYY
                                                                   Current listing price of property after DIL.
                             Property Listing Price                Include decimal point only; do not include commas 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.
                             Promissory Note Amount                Include decimal point only; do not include 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:                                                www.pmi-us.com/servicers
be3cba03-38c5-48c5-96cd-bb252dabf853.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   Gross      Net Modified Deferred    Total         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   Modified   UPB *        Principal   Capitalized $              %*           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)      UPB *                   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
                                                          Delegated Loss Mitigation Report

                                                            Description of Changes ( January 16, 2010)

Column # Revision/Addition            Data Element                                       Before                                                                After
    A           Revision     Primary Certificate Number                                                                   Primary certificate number
    B           Revision     Pool Certificate Number                                                                      PMI Pool Certificate number, only applicable if certificate is a pool loan
    C           Revision     Contract ID #                       Contract ID # for pool loans                             PMI Pool Contract ID, only applicable if certificate is a pool loan
    D           Revision     Workout Type                        Forbearance, Payment plan, Loan Modification, Pre-   Select from one of the following values:
                                                                 foreclosure Sale, Deed-in-Lieu or HomeSaver Advance. Forbearance
                                                                 Select Forbearance when reporting the HAMP Trial
                                                                                                                      Payment Plan
                                                                 Period.
                                                                                                                      Loan Modification
                                                                                                                          Pre-Foreclosure Sale
                                                                                                                          Deed-in-Lieu
                                                                                                                          HomeSaver Advance (HSA)
                                                                                                                          Select Forbearance when reporting the HAMP Trial Period
    F           Revision     Workout Effective Date              Workout Close Date                                       Workout Effective Date
                                                                 Date that workout was finalized/official (borrower signed HAMP Trial Period, Forbearance or Payment Plan - Start Date (1st payment
                                                                 documents, etc). For HAMP Trial Period, Forbearance date under plan)
                                                                 or Payment Plans use Start Date.                          Loan Modification - Date where workout was finalized/official (borrower signed
                                                                                                                           documents, etc).
                                                                                                                           Pre-Foreclosure Sale - Closing Date (Date of Escrow)
                                                                                                                           Deed-in-Lieu - DIL completion Date
                                                                                                                           May not be a future date.
    Q           Revision     Delinquent Amount                   Past due amount. Does not include late fees, etc.        Past due amount. Does not include late fees, etc. Required for all retention
                                                                 Required for all retention workouts.                     workouts.
                                                                                                                          Include decimal point only; do not include commas or dollar sign.
    R           Revision     Reason for Delinquency (RFD)        See RFD values shown on the List tab or in the drop-     Select from one of the following values:
                                                                 down menu on the Template. Required for delinquent       Abandonment of Property
                                                                 loan workouts 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           Revision     Borrower Cash Contribution Amount   Amount borrower is able to contribute to the workout     Amount borrower is able to contribute to the workout transaction. Include
                                                                 transaction                                              decimal point only; do not include commas or dollar sign.




be3cba03-38c5-48c5-96cd-bb252dabf853.xls                                                                                                                                                January 16, 2010
                                                           Delegated Loss Mitigation Report

                                                            Description of Changes ( January 16, 2010)

    T           Revision     Monthly Payment                       Monthly payment under the forbearance or repayment        Monthly payment under the forbearance, repayment plan, HAMP trial period.
                                                                   plan                                                      Include decimal point only; do not include commas or dollar sign.

    Z           Revision     Gross Modified UPB                    Unpaid Principal Balance after loan modification. For  Gross Unpaid Principal Balance after loan modification; this includes any
                                                                   HAMP this includes any deferred principal (Gross UPB). deferred principal, i.e. Gross Modified UPB = Amortizing Modified UPB +
                                                                                                                          Deferred Principal Amount.
                                                                                                                          Include decimal point only; do not include commas or dollar sign.
    AA          Addition     Net Modified UPB                                                                              The unpaid principal balance of a loan after the loan modification
                                                                                                                           EXCLUDING any deferred principal; can also be referred to as
                                                                                                                           Amortizing Modified UPB Amount.
    AB          Revision     Deferred Principal Amount             Provide amount of principal forbearance granted as part Provide amount of principal forbearance granted as part of the modification.
                                                                   of the modification.                                    Include decimal point only; do not include commas or dollar sign.

    AF          Revision     Modified Loan Type                    See Loan Type values shown on the List tab or in the      Select from one of the following values:
                                                                   drop-down 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
    AP          Revision     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.
    AQ          Revision     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.
    AR          Addition     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.
    AS          Addition     Current Property Valuation Type                                                                 Select from one of the following values:
                                                                                                                             Appraisal
                                                                                                                             AVM
                                                                                                                             BPO
                                                                                                                             BPO - Drive By
                                                                                                                             BPI - Interior
                                                                                                                             External
                                                                                                                             In House
                                                                                                                             List Price
    AT          Revision     Current Property Value                Current Property Value (BPO)                              Current Property Value
                                                                   Broker’s Price Opinion (BPO) or Appraisal prior to the    Recent property value as determined by a Property Valuation (e.g. appraisal)
                                                                   pre-foreclosure sale date to determine the current Fair   conducted prior to the pre-foreclosure sale date of the Property, i.e. current
                                                                   Market Value (FMV) of the Property                        Fair Market Value (FMV). Include decimal point only; do not include commas
                                                                                                                             or dollar sign.
    AU          Revision     Current Property Value Date           Date of Broker’s Price Opinion (BPO) or Appraisal         Date of recent Property Valuation
    AV          Addition     As Is Property Value
                                                                                                                             Estimated value of the property in current condition.
                                                                                                                             Include decimal point only; do not include commas or dollar sign.
   AW           Addition     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.
    AX          Revision     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.
    AZ          Revision     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       conducted prior to the Deed-in-Lieu date of the Property, i.e. current Fair
                                                                   Market Value (FMV) of the Property                        Market Value (FMV).
                                                                                                                             Include decimal point only; do not include commas or dollar sign.
    BB          Revision     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.
    BD          Revision     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.




be3cba03-38c5-48c5-96cd-bb252dabf853.xls                                                                                                                                                January 16, 2010

				
DOCUMENT INFO
Shared By:
Categories:
Tags:
Stats:
views:11
posted:7/27/2011
language:English
pages:5
Description: Promissory Note Template Interest document sample