Servicing Guide

Published September 9, 2020

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When in SMDU UI, are expenses required to be entered in the Evaluate for a Workout?

Under “Expenses” enter any category or class of debts monthly amounts which must be paid monthly by borrower to pay down liability and keep accounts current, you do this by selecting the “+Add” button. You should select all that apply for this borrower. Information from the credit report should be entered in expenses. You DO NOT enter any information about the subject property, other than, as applicable, the Subject Property Subordinate Financing P&I, all other details for the subject property will be captured through other left-hand navigation links (e.g., Property, Loan & Origination). 

It is acceptable to enter all expenses under Borrower One in the Evaluate for a Workout.

If there are no expenses select an option from the “Expense” drop down menu and enter zero ($0.00) for the” Expense Amount”. Currently an expense type is required for an IDE.

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

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