Information in this newsflash applies to Retained Servicing loans.
The procedure for requesting a stop pay and reissue of funds for escrow analysis overage refunds and paid in full escrow refunds now requires two tasks to be opened.
The first task to always open for all stop pay and reissue requests is CHHSTP – Stop Check Disbursement.
The second task to open will depend on the type of stop pay and reissue being requested.
- For Escrow Analysis Overage Checks, open the ANAOVR task in addition to the CHHSTP task
- For Escrow Balance Refund After Paid In Full Checks, open the ESCPIF task in addition to the CHHSTP task
Become familiar with the updated procedure, timeframes to request a reissue, and task notes documentation requirements by reviewing this topic in KnowledgeOwl.
Click Here, or type “Stop Payment” in the KnowledgeOwl Search Bar.