Servicing Guide

Published September 9, 2020

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When in SMDU UI, what Asset types should be entered when Evaluating for a Workout?

Under “Assets” enter any assets which have value in the market, you do this by selecting the “+Add” button. You should select all that apply for this borrower. DO NOT enter any information about the subject property in this section, details for the subject property will be captured through other left hand navigation links (e.g., Property, Loan & Origination).

Note: If there is no asset select “Checking Account” and enter zero ($0.00) for the Asset Amount. Currently an asset type is required for an IDE.

Note: These asset types will be used in the IDE to determine total cash reserve amount: Checking Account, Savings Account, Money Market/Mutual Fund, Severance Package, Other Liquid Asset, Stock, Trust/Annuity Funds, Bond, Cash on Hand, and Certificate of Deposit, Gift.

Note: IDE will not consider the following asset types: Automobile, Boats RV, Life Insurance, Other no-liquid asset, Real Estate not for sale, and Retirements Funds IRA 401K.

For additional information please refer to the "Evaluate for a Workout" section of the SMDU UI User Guide.

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