The Claim Type 21 Claims Worksheet has a new comment in the Disposition Information section under Appraisal Based Claim radio button. The comment states 407 & 408 Closing Costs are not included on Appraisal Based “Section Claims”. Figure 7: CT21 New Claims Worksheet comment CLAIMS CT23 Short Sale updates – Recorded from Loss Mitigation Short Sale timeline is required for Claim “Deed Date” – Type 23 Short Sale – For all Claim Type the step Recorded step completion date from the Loss 23’s, “Deed Date” Mitigation Short Sale timeline will be required to submit the claim to HUD. If the – “Deed Recorded step completion date is missing, a hard stop validation message will be Date” displayed. In addition, the Closing is no longer displayed on the Claim “Sale Date” Worksheet under Disposition Information and is replaced by the Recorded “Deed Date”. See topic 9.2 for details. Claims Worksheet Disposition Information screen without Closing – “Sale Date”: Figure 8: CT23 Claims Worksheet Disposition Information – The hard stop validation message is deed or assignment filed for record or date of “Date closing or appraisal is required. Please enter a Sale Closing Date / Deed Recorded Date.” Figure 9: CT23 Validation Message for missing Recorded “Deed Date” To enter the Recorded on the Loss Mitigation Short Sale timeline. Step “Deed Date” – “Deed Recorded is triggered by completion of the step Closing Go to Endorsed > Date” “Sale Date”. Disposition > Setup (or Search, if the timeline Mitigation Short already exists), select “Loss – timeline. If the Recorded is not displayed, first enter a completion date for Sale” “Deed Date” step Closing Completing this step will add the step Recorded a “Sale Date”. “Deed Date” and completion date can be entered for Recorded “Deed Date”. Closing step completion date should be populated with the sales closing date “Sale Date” displayed on the settlement closing statement. Recorded step completion date should be populated with the date the sales deed is “Deed Date” recorded with the local county clerk’s office.
The Claim Type 21 Claims Worksheet has a new comment in the Disposition Information section under Appraisal Based Claim radio button. The comment states “Section 407 & 408 Closing Costs are not included on Appraisal Based Claims”. Figure 7: CT21 New Claims Worksheet comment CLAIMS – CT23 Short Sale updates “Deed Recorded Date” from Loss Mitigation – Short Sale timeline is required for Claim Type 23 – Short Sale For all Claim Type 23’s, the step “Deed Recorded Date” step completion date from the Loss Mitigation – Short Sale timeline will be required to submit the claim to HUD. If the “Deed Recorded Date” step completion date is missing, a hard stop validation message will be displayed. In addition, the “Sale Closing Date” is no longer displayed on the Claim Worksheet under Disposition Information and is replaced by the “Deed Recorded Date”. See topic 9.2 for details. Claims Worksheet – Disposition Information screen without “Sale Closing Date”: Figure 8: CT23 Claims Worksheet – Disposition Information The hard stop validation message is “Date deed or assignment filed for record or date of closing or appraisal is required. Please enter a Sale Closing Date / Deed Recorded Date.” Figure 9: CT23 Validation Message for missing “Deed Recorded Date” To enter the “Deed Recorded Date” on the Loss Mitigation – Short Sale timeline. Step “Deed Recorded Date” is triggered by completion of the step “Sale Closing Date”. Go to Endorsed > Disposition > Setup (or Search, if the timeline already exists), select “Loss Mitigation – Short Sale” timeline. If the “Deed Recorded Date” is not displayed, first enter a completion date for step “Sale Closing Date”. Completing this step will add the step “Deed Recorded Date” and a completion date can be entered for “Deed Recorded Date”. “Sale Closing Date” step completion date should be populated with the sales closing date displayed on the settlement closing statement. “Deed Recorded Date” step completion date should be populated with the date the sales deed is recorded with the local county clerk’s office.
HERMIT%20Release%20Notes%20-%20Release%205.5.docx