The following table lists the information that must be sent to a law firm when a mortgage loan is referred for either bankruptcy or foreclosure proceedings.
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The referral must include… |
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The following servicer information:
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the servicer’s name, address, and Fannie Mae Identification Number; and
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the servicer’s contact person’s name, telephone number, email address, and fax number.
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The following property information:
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the property address, and Tax Identification Number or assessor’s parcel number (if available);
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the property type (single-family, condo, co-op, etc.);
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the number of dwelling units;
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occupancy status;
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whether the property is owner-occupied or an investment property (if an investment property, provide all known information, including number of units, occupancy status, names of any tenants, rental income, lease amounts, etc.);
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whether the property is Native American land (tribal trust, allotted, restricted fee, as applicable);
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the name and telephone number of the management agent for a co-op project (if applicable); and
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the name and telephone number of the HOA or condominium association (if applicable).
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The following borrower information:
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the borrower’s name and, if available, phone number(s) and email address;
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the borrower’s mailing address (if different from property address);
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the borrower’s Social Security number or Tax Identification Number; and
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the borrower’s current military status (if any).
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The following mortgage loan information:
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the servicer’s Loan Identification and Fannie Mae Loan Number;
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MERS MIN, if applicable;
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lien priority (first or subordinate);
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original mortgage loan amount;
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current UPB and LPI date;
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the total amount past due (reinstatement);
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the total amount due (payoff);
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itemization of fees, costs, and other charges;
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brief servicing history for the last 12 months (including previous foreclosure referrals, workout attempts, and bankruptcies);
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the name of the mortgage insurer (if applicable); and
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any other important mortgage loan characteristics (such as HECM status, Texas Section 50(a)(6) loan, etc.).
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In addition to all of the data elements previously mentioned in this topic, a referral to a law firm for bankruptcy proceedings will also require the following information:
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bankruptcy case number;
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bankruptcy jurisdiction;
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date of the bankruptcy filing;
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chapter under which the bankruptcy was filed;
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any property valuation information;
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breakdown of the monthly payment (principal, interest, and escrow deposits);
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mortgage escrow analysis (showing any shortage or surplus); and
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foreclosure case number, jurisdiction, and date the proceedings initiated.
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