Monday, September 10, 2012

NMSRD^TM - The National Mortgage Servicer's Reference Directory^TM

TABLE OF CONTENTS (28th ed.)

CH 1: STATE SUMMARIES CH 2: LOAN SATISFACTION AND RECONVEYANCE REQUIREMENTS CH 3: BANKRUPTCY CH 4: DEFICIENCY RECOVERY CH 5: FAIR CREDIT REPORTING ACT CH 6: FAIR DEBT COLLECTION PRACTICES CH 7: SERVICEMEMBER'S CIVIL RELIEF ACT CH 8: FANNIE MAE CH 9: FREDDIE MAC CH 10: HUD INSURED LOANS CH 11: USDA - RURAL DEVELOPMENT CH 12: VETERANS ADMINISTRATION CH 13: PRIVATE MORTGAGE INSURANCE

CH 1: STATE SUMMARIES [and STATE STATUTES] Chapter One of this publication addresses myriad mortgage loan management and servicing topics, state-by-state, in a summary (narrative) section and also in a statute (list) section. Examples of servicing topics covered are provided below. In the Summary Section - The newest topic added is "Pre-Foreclosure Notices and Other Requirements." • Assignments • Breach Letter Requirements • Condemnation • Death of an Owner/Borrower • Deed-in-Lieu of Foreclosure • Deficiency Judgment after Sale • Documents needed to Initiate Foreclosure • Eviction Synopsis • Forbearance Agreements • Foreclosure Synopsis • Foreclosure Timelines – one for each state, following the state's narrative • Judicial Foreclosure • Mediation • Nonjudicial Foreclosure • Possession after Foreclosure • Postponement of Sale • Post-Sale/Conveyance After Foreclosure • Pre-Foreclosure Notices & Other Requirements • Publication Requirements • Recoverable (or Reimbursable) Fees and Costs • Re-conveyance • Redemption • Reinstatement • Sale Continuances • Sale Rescission • Statutes of Limitations on Foreclosure Actions • Substitutions of Trustee In the Statutes Section - The newest topic added is "Tenant Protections." • Abusive Home Lending Practices • Assignment of Bids • Assignments of Rents • Assumption • Bidding at Sale • Bidding Strategies • Debt Collection Statutes • Deficiency Judgment after Sale • Documentary Transfer Tax • Due on Sale Clauses • Equitable Subrogation • Escrow Accounts • Escrow Administration • Excess Foreclosure Sale Proceeds • Fast Track Demolitions • Foreign Language Accommodation • Hazardous Waste • Home Owner Associations • Insurance • Insurance Losses • Interest on Impound Accounts • Interest Rate Increases • Internet Publication • Junior Liens • Late Charges • Loan Modifications (non-bankruptcy) • Loan Satisfaction • Manufactured Housing/Mobile Homes • Mechanic’s Liens • Military Servicemember Requirements • Mortgage Insurance Cancellation • Mortgagor Request • Non-Resident Landlords • Non-Sufficient Funds Fees • Notice of Default/Acceleration • Payoff Statement Requests • Predatory Lending • Prepayment Penalties • Privacy/Info Sharing • Property Inspections • Property Maintenance and Preservation • Record Retention • REO Condition Disclosure • Resident Office • Reverse Mortgage Servicing • Rights of Reinstatement • Sale of Servicing • Short Sales • Spousal Signature • Super Liens • Tax Sale Procedures • Taxes • Tenant Protections • Title Evidence • Title Insurance • Toll-free Phone Requirements • Vacant Property Requirements • Water Liens BACK TO TOP
CH 2: LOAN SATISFACTION AND RECONVEYANCE REQUIREMENTS • Introduction • State-by-state Review BACK TO TOP
CH 3: BANKRUPTCY (Part 1) • Introduction • The Automatic Stay • Chapter 7 • Chapter 13 • Chapter 11 • Abusive Filings • Foreclosure Sales, “Reasonably Equivalent Value” • Bankruptcy Reform Overview • Introduction and Background • Effective Date • Summary of Effect • Analysis of Specific Changes • Adoption of a Means Test • Debtor Education • Increased Filing Requirements • Notice to Creditors • Discouraging Bankruptcy Abuse • Treatment of Secured Claims • Valuation • Truth in Lending Amendments • Miscellaneous Changes to Chapter 13 • Chapter 11 Cases Filed by Individuals • Child Support • Consumer Protections • Post-Discharge Communications with Debtors • Initial Expectations • Additional Resources • Endnotes (Part 2) • Electronic Developments in the BK Courts • Electronic Case Filing • Electronic Access to Courts • U.S. BK Clerks of Court Contact Information • Chapter 13 Trustee Web Access BACK TO TOP
CH 4: DEFICIENCY RECOVERY • Overview • State Chart BACK TO TOP
CH 5: FAIR CREDIT REPORTING ACT • Mortgage Servicers as Providers of Information • Mortgage Servicers as Users of Consumer Reports • Rejection of a Workout by Mortgage Servicer based on a Consumer Credit Report • Obtaining Credit Information for Improper Purposes • Address Discrepancies • Mortgage Servicers as Consumer Reporting Agency • When Borrower has Claimed ID Theft • Sharing of Mortgage Servicing Information • Servicing Loans Involved in BK Proceedings • Credit • Non-Recourse Loans • The Bankruptcy Chapter 7 Discharge • The Difference Between Threats and Reporting • Civil and Criminal Penalties • Regulatory Authority • State Fair Credit Laws and Federal Preemption • Endnotes BACK TO TOP
CH 6: FAIR DEBT COLLECTION PRACTICES • Background and Scope • State Fair Debt Collection Practices Laws • State Statutory Authorization • State Contacts • Excerpts from the Federal FDCPA • § 1692a. Definitions • § 1692b. Acquisition of location information • § 1692c. Communication • § 1692d. Harassment or abuse • § 1692e. False or misleading representations • § 1692f. Unfair practices • § 1692g. Validation of debts • § 1692h. Multiple debts • § 1692i. Legal actions by debt collectors • § 1692j. Furnishing certain deceptive forms • § 1692k. Civil liability BACK TO TOP
CH 7: SERVICEMEMBERS CIVIL RELIEF ACT • Background • Purpose • Protected Parties • Mortgage Foreclosures • Interest Rate Reduction • Waiver of Rights • Tolling of Redemption • Penalties • Homeownership Counseling & SCRA Disclosure • Other Provisions • Recommendations • Conclusion BACK TO TOP
CH 8: FANNIE MAE • Overview • Hope Now Alliance • Staffing Levels for Default-Related Activities • Required Delinquency Management Actions • Introduction of Adverse Action Ntoice (Form 182) • Property Inspections (and Property Preservation Matrix) • Loss Mitigation Fees • Default & Loan Liquidation Reporting • Credit Reporting • Bankruptcies • Commencement and Prosecution of Foreclosure • Temporary Suspension of Foreclosure Proceedings • Bidding Instructions • Insurance Claims on Acquired Properties • Foreclosure and Bankruptcy Attorneys • Evictions • Allowable Fees and Costs • Fannie Mae Fee Chart • Optimum Foreclosure Time Frames • National Property Disposition Center • Fannie Mae Offices BACK TO TOP
CH 9: FREDDIE MAC • Commencement of Foreclosure and the Home Affordable Modification Program (HAMP) • Servicemembers Civil Relief Act (SCRA) • Selecting Counsel or Trustee • Foreclosure Bidding • Preserving Deficiency Rights • Foreclosure & Bankruptcy Time Frames • Foreclosure Time Frames • Allowable Fees and Expenses • Property Preservation • Maintenance Allowables • Record Retention • MERS Membership • Disaster Relief Information • Credit Reporting • Freddie Mac Servicing and REO Regional Office Information BACK TO TOP
CH 10: HUD INSURED LOANS (Part 1) • HUD History • Recent Changes • Disaster Resource Information • Collection Requirements • Default Reporting (Part 2) • HUD Loss Mitigation Programs • Tier Ranking • HUD’s Neighborhood Watch Program • HUD’s Accelerated Claims Disposition Demo • HUD Quality Control Program (Part 3) • Commencement of Foreclosure • HUD Policy Regarding Mortgage Cramdowns • Property Preservation & Post-Endorsement Fees • Allowable Foreclosure Attorney Fees • HUD Foreclosure Time Frames • Foreclosure Time Frame Chart • HUD HQ Directory • FHA Connection • HUD Homeownership Centers & Resource Center • Management and Marketing Contractors • Process for Mortgagee Appeals • HUD Debenture Rates • REO Preservation & Protection Cost Schedules • Data Codes BACK TO TOP
CH 11: USDA - RURAL DEVELOPMENT • Single Family Housing Guaranteed Loan Program (§ 502) • Applicant Eligibility • Lender Approval • Standards • Approval • Information • Monthly and Quarterly Default Reporting • LINC Training and Resource Library • Loss Mitigation • Servicing Plan • Servicing Early Delinquency Loans • Early Intervention • Involuntary Inability to Pay • Default Counseling • Informal Forbearance Plans • Borrower’s Ability (Capacity) to Cure • Sale of the Property • Lender’s Loss Mitigation Actions • Loss Mitigation — General Information • Default Status of the Loan • Owner Occupancy • Other Eligibility Factors • 90-Day Review • Curable Default • Noncurable Default • Monthly Evaluation • Evaluating the Borrower’s Financial Condition • Ineligible Borrower • Combined Options • Property Condition • Servicing Plan and Loss Mitigation Checklists • Foreclosure • Time to Initiate Action • Lender Reporting • Extension Requests • Option Failure • Documentation • Special Forbearance • Special Provisions when the Cause of Default is Unemployment • Loan Modification • Pre-Foreclosure Sale • Deed-in-Lieu of Foreclosure • Liquidation • Property Disposition Plan (PDP) • Loss Claims and Future Recovery • Manual & Automated GRH Loss Claim Processes • Foreclosure Sale Bids • Reimbursement of Attorney and Trustee Fees • Acceptable Foreclosure Time Frames • USDA Office Directory • USDA National Office Staff • USDA State Office Staff BACK TO TOP
CH 12: VETERANS ADMINISTRATION • History • Loan Administration Redesign • VA Loan Electronic Reporting Interface (VALERI) • Overview of Changes • VALERI Operational Information • Servicing Changes under VALERI • Loan Servicing • Electronic Reporting Requirements • Partial Payments • Late Charges • Prepayments • Loss Mitigation • Servicing Time Frames and Cutoffs • Foreclosure Time Frames • Attorney Fees • Allowable Attorney Fees and Outsourcing • Property Preservation • Reimbursement for Expenses/Advances • Bidding Instructions • Right to Convey Property to the VA • Title Documents on Conveyances • Other Conveyance Issues • Claims under Guaranty • Post-Audits • Servicer Tier Rankings • Refunding • Special Requirements for 4600 Repurchase • Natural Disasters Resource Information • Servicemembers Civil Relief Act (SCRA) • WebGIL Application for Servicer Status Inquires • Additional Information Sources • VA Central Office Staff BACK TO TOP
CH 13: PRIVATE MORTGAGE INSURANCE • Overview • Genworth Mortgage Insurance Corp. • Mortgage Guaranty Insurance Corp. • PMI Mortgage Insurance Co. • Radian Guaranty Inc. • Republic Mortgage Insurance Co. • Triad Guaranty Insurance Corp. BACK TO TOP

VALID VENDORS REAL-ESTATE SERVICES LLC, Management,Maintenance,Consltants,Company. is committed to preserving and maintaining properties on a timely basis. Our clients appreciate the quality work provided as well as the management of code requirements, documentation and photos. Each property is monitored and work status is updated regularly using the latest technology and computer software to track any service or changes.
We have witnessed the damage a property suffers if not maintained or prepared for seasonal changes. Bluewater Field Services specialists will help eliminate exspensive damages by being proactive with required maintenance and informing the customer of existing and potential future code violations.
Preservation Services Include:

- Lock Changes, Re-Keys, Lock Boxes
- Board Ups/Window Replacement/Screening
- Cleaning Services
- Interior/Exterior Debris Removal
- Exterminating
- Water Pumping
- Demolition and Disposal
- Health Hazards Removals
- Lawn Service/Maintenance
- Interior/Exterior Repair
- Roof Repairs
- Abandoned Vehicle Removal
- REO / Foreclosure Services
- Pool and Spa Covering
- Snow Removal
- Trash Outs
- Winterizing / De-Winterizing
- Ongoing Property Services
- Photos

Home Services About SVPS Contact SVPS call us toll free 1-623-239-8189 Inspection Services Sun Valley Property Inspections are completed nationwide by professionally trained inspectors. We provide rapid and accurate information regarding the requested property’s condition as well as occupancy status when applicable. Exterior and Interior inspections are completed to provide an accurate assessment of the property condition and evaluation of necessary work required to preserve the property. All inspections follow industry standards and requirements. Customized inspections are available upon customer request. Provided Services: - Property Inspection Reports - Occupancy Verification - Drive by Inspections - Sale Date Inspections - Rush and Evening Inspections - REO Occupancy Status Inspections - Bankruptcy Inspections - Insurance Loss Inspections - Construction Progress Inspections - Insurance Casualty Inspections - Quality Control and Annual Inspections - HUD Inspections - Photographs Property Preservation Sun Valley Property Management is committed to preserving and maintaining properties on a timely basis. Our clients appreciate the quality work provided as well as the management of code requirements, documentation and photos. Each property is monitored and work status is updated regularly using the latest technology and computer software to track any service or changes. We have witnessed the damage a property suffers if not maintained or prepared for seasonal changes. Bluewater Field Services specialists will help eliminate exspensive damages by being proactive with required maintenance and informing the customer of existing and potential future code violations. Preservation Services Include: - Lock Changes, Re-Keys, Lock Boxes - Board Ups/Window Replacement/Screening - Cleaning Services - Interior/Exterior Debris Removal - Exterminating - Water Pumping - Demolition and Disposal - Health Hazards Removals - Lawn Service/Maintenance - Interior/Exterior Repair - Roof Repairs - Abandoned Vehicle Removal - REO / Foreclosure Services - Pool and Spa Covering - Snow Removal - Trash Outs - Winterizing / De-Winterizing - Ongoing Property Services - Photos Copyright © 2011-2012 Sun Valley Property Services. All Rights Reserved.

call us toll free

1-623-239-8189

Inspection Services

Sun Valley Property Inspections are completed nationwide by professionally trained inspectors. We provide rapid and accurate information regarding the requested property’s condition as well as occupancy status when applicable. Exterior and Interior inspections are completed to provide an accurate assessment of the property condition and evaluation of necessary work required to preserve the property. All inspections follow industry standards and requirements. Customized inspections are available upon customer request.
Provided Services:

- Property Inspection Reports
- Occupancy Verification
- Drive by Inspections
- Sale Date Inspections
- Rush and Evening Inspections
- REO Occupancy Status Inspections
- Bankruptcy Inspections
- Insurance Loss Inspections
- Construction Progress Inspections
- Insurance Casualty Inspections
- Quality Control and Annual Inspections
- HUD Inspections
- Photographs

Property Preservation

Sun Valley Property Management is committed to preserving and maintaining properties on a timely basis. Our clients appreciate the quality work provided as well as the management of code requirements, documentation and photos. Each property is monitored and work status is updated regularly using the latest technology and computer software to track any service or changes.
We have witnessed the damage a property suffers if not maintained or prepared for seasonal changes. Bluewater Field Services specialists will help eliminate exspensive damages by being proactive with required maintenance and informing the customer of existing and potential future code violations.
Preservation Services Include:

- Lock Changes, Re-Keys, Lock Boxes
- Board Ups/Window Replacement/Screening
- Cleaning Services
- Interior/Exterior Debris Removal
- Exterminating
- Water Pumping
- Demolition and Disposal
- Health Hazards Removals
- Lawn Service/Maintenance
- Interior/Exterior Repair
- Roof Repairs
- Abandoned Vehicle Removal
- REO / Foreclosure Services
- Pool and Spa Covering
- Snow Removal
- Trash Outs
- Winterizing / De-Winterizing
- Ongoing Property Services
- Photos

Valid Vendors Real-estate Services LLC,

call us toll free

1-623-239-8189

1 2

Sun Valley Property Management has been providing property inspection, preservation, management, code enforcement services to banks, insurance companies, lending institutions and other municipalities for over a decade. Highly trained, licensed and insured individuals provide quality work on time for every property. Our staff is trained in the latest computer and industry technology to service each customer with continuous communication, efficient reporting, and most importantly, a higher quality of work. We follow all industry and government requirements, maintain industry relationships to monitor regulation changes and requirements, and employ individuals of high integrity committed to the success of our business and yours.

Sun Valley Property Management is committed to helping mortgage lending institutions, municipalities and investors preserve the integrity of the properties associated with their loans and investments. Our services are designed to provide your business with an analysis of the home, recommendations for required work to meet government and investor guidelines, and provide the quality labor necessary to complete all of the required work quickly for you to meet your timing and financial objectives.
Our team encompasses members nationwide who specialize in a multitude of disciplines to ensure that all customer needs are met. These specialists include licensed builders, inspectors, and real estate project managers who guarantee the quality and timeliness of work.
We have implemented technology throughout all of our processes to advance client communication and provide thorough property inspections and preservation services.
SVPS guarantees quality work and strives to continuously improve our services as well as those of related businesses in the industry.

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Valley Club Custom Log Home
This custom log residence stands out as one of the special homes in the Valley Club. Overlooking the 7th green of the golf course, this 5-bedroom, 5.5 bath home has all the best of features. Two dry stack rock fireplaces, vaulted ceilings, built-in alder armoires in the living room and a very open custom kitchen.