Case Study Of Modified Loan Modification
Modified Loan
If the loan was modified, view the modification documents in LPS Imaging. If RCS modified a loan, the documents should be under Default\Loss Mitigation\Loan Modification folder. If the prior servicer executed a modification, the documents should be under either Acquisition\Default or Origination\Modification Agreement folders. If the modification is not located in those two areas, it is possible that the documents are imaged; however under the wrong area. Review any other document folders to locate the Modification Agreement. If the Loan Modification cannot be located, open CIT 349 for the Collateral Department to locate the original Loan Modification document from the collateral file held at the custodian. Include instructions
in the CIT 349 to email a copy of the signed modification document.
If the loan was modified, view the modification documents in LPS Imaging. If RCS modified a loan, the documents should be under Default\Loss Mitigation\Loan Modification folder. If the prior servicer executed a modification, the documents should be under either Acquisition\Default or Origination\Modification Agreement folders. If the modification is not located in those two areas, it is possible that the documents are imaged; however under the wrong area. Review any other document folders to locate the Modification Agreement. If the Loan Modification cannot be located, open CIT 349 for the Collateral Department to locate the original Loan Modification document from the collateral file held at the custodian. Include instructions
in the CIT 349 to email a copy of the signed modification document.