If you have any questions regarding the functionality of the software release, please contact the HERMIT Help Desk at 561-899-2610 or at . If you have any policy related questions, please send an email to HUD at . 1.0 D & P – There are several changes to the D&P w/HUD D & P w/HUD Approval timeline changes: Approval timeline to include: 1) new default reasons, 2) new timeline steps, 3) new document types, and 4) new timeline steps that are dependent on a specific default reason. Highlights to include reporting “Missed Property Charges”, “Mailed Missed Payment Notice Borrower” of the actual PDF letter sent to and “Missed Payment Notice” letter which will require upload the borrower. 1.1 Due & Payable w/HUD Approval new and Categorization “Default Reasons” HERMIT has added new to Due & Payable w/HUD Approval Timeline. “Default Reasons” In addition, the Default Reasons are categorized to determine if the default reason is applicable to Property applicable to Property “Missed Charges”. When “Missed Charges”, additional steps are required to be completed. Default Reasons for D&P w/HUD Approval Default Reason New or Existing Categorized as Property “Missed Charges” Unpaid Ground Rents New YES Unpaid Condo Fees New YES Unpaid New YES PUD’s Unpaid HOA Fees New YES Unpaid Special Assessments New YES End of Deferral Period New NO Residency Existing NO Repairs & Upkeep Existing NO Occupancy Compliance Existing NO Unpaid Insurance Existing YES Unpaid Taxes Existing YES Unpaid Taxes & Unpaid Insurance Existing YES
If you have any questions regarding the functionality of the software release, please contact the HERMIT Help Desk at 561-899-2610 or at . If you have any policy related questions, please send an email to HUD at . 1.0 – D & P D & P w/HUD Approval timeline changes: There are several changes to the D&P w/HUD Approval timeline to include: 1) new default reasons, 2) new timeline steps, 3) new document types, and 4) new timeline steps that are dependent on a specific default reason. Highlights include reporting “Missed Property Charges”, “Mailed Missed Payment Notice to Borrower” and “Missed Payment Notice” letter which will require upload of the actual PDF letter sent to the borrower. 1.1 Due & Payable w/HUD Approval new “Default Reasons” and Categorization HERMIT has added new “Default Reasons” to Due & Payable w/HUD Approval Timeline. In addition, the Default Reasons are categorized to determine if the default reason is applicable to “Missed Property Charges”. When applicable to “Missed Property Charges”, additional steps are required to be completed. Default Reasons for D&P w/HUD Approval Default Reason New or Existing Categorized as “Missed Property Charges” Unpaid Ground Rents New YES Unpaid Condo Fees New YES Unpaid PUD’s New YES Unpaid HOA Fees New YES Unpaid Special Assessments New YES End of Deferral Period New NO Residency Existing NO Repairs & Upkeep Existing NO Occupancy Compliance Existing NO Unpaid Insurance Existing YES Unpaid Taxes Existing YES Unpaid Taxes & Unpaid Insurance Existing YES
HERMIT-System-Changes-Release4.1.docx