Acronyms Foreclosure Systems General Servicing Property Preservation
100
What is Federal Housing Administration?
FHA
100
What is Judicial?
Filing a complaint or petition is the first legal action in a _________ foreclosure.
100
Loanserv/Sagent/Fiserv?
System used to track loan-level data and servicing activities.
100
What are fee schedules/guidelines?
Every state has a cap and CMS follows this to stay compliant.
100
What is a fee approval?
This is needed when the cost exceeds the allowed amount.
200
What is Housing and Urban Development?
HUD
200
Diligence/FCL Sale timeframe?
For FHA, this timeframe begins after First Legal is filed and recorded.
200
What is INST/SEC? (Institution Security)
Screen used in Loanserv to look up a Teller ID.
200
What is Report 17?
This enterprise report is used to support escrow advances.
200
What is PPT?
This filter in Lonserv can be used to view only property preservation tasks/notes.
300
What is Principal, Interest, Taxes, and Insurance?
PITI
300
What is Litigation?
Legal action resulting from a contested foreclosure.
300
What is Equator?
System where you can obtain short sale and REO information.
300
What is Tier 1?
CMS is rated this tier for mortgage servicing.
300
What is a work order?
You can view this document to see notes from the vendor for services rendered.
400
What is Federal Emergency Management Agency?
FEMA
400
What is a restart?
This is needed in some states when a foreclosure action is interrupted by an event.
400
What is Tempo?
System where you can find a title package.
400
What is title curative?
Uncured liens can lead to CMS having to do this before conveying a property.
400
What is a hazard claim?
A request for financial assistance to repair a home’s structure after damage.
500
What is Federal National Mortgage Association?
FNMA
500
What a sheriff deposit?
It is not uncommon to see this refund included with 3rd party proceeds
500
What is P360?
System used to request reimbursement on FNMA claims.
500
What are fee schedules/guidelines? $500
Every state has a cap and CMS follows this to stay compliant.
500
What is an inspection?
This provides evidence of a property's condition.






CMS Jeopardy

Press F11 for full screen mode



Limited time offer: Membership 25% off


Clone | Edit | Download / Play Offline