June 8, 2021: Conservatorship and Guardianship

A new procedure has been published in KnowledgeOwl for Retained Servicing regarding loans in a Conservatorship or Guardianship status.

This procedure defines a Conservatorship, a Guardianship and lists the documentation required to update loans into one of these statuses.  

The procedure advises that comments will be documented on the SERN screen (which also populates on the NOTS screen) and the MEM1 screen in MSP when loans are in a Conservatorship or Guardianship status.

View this information in KnowledgeOwl for Retained Servicing Loans by navigating to:  

Home  >>  Account Maintenance  >>  Customer Relations  >>  Authorized Parties  >>  Indicating Conservatorship and Guardianship  

You may also access this information by typing “conservatorship” or “guardianship” in the KnowledgeOwl search bar.

The Call Center portion of the procedure is shown below.  Please contact your supervisor or manager if you have any questions.

Indicating Conservatorship and Guardianship


When a customer is incapacitated or unable to make sound decision, a Conservator or Guardian may be appointed by a judge to make decisions on their behalf.

Conservatorship is when an individual or corporation is appointed by a court to manage the estate, property, and/or other business affairs of an individual whom the court has determined is unable to do so for themselves.  The individual who is being protected is called the "protected person" or "conservatee."

Guardianship is when an individual provides care of someone who is not able to care for himself or herself.  The court may appoint a Guardian if there is clear and convincing evidence that the person is incapacitated and that he or she requires continuing care or supervision.  The individual who is being watched over on behalf of the court through the Guardian is called the "ward."

  • A Guardian of the person is responsible for decisions about care provisions and living arrangements of the ward
  • A Guardian of the estate, also known as a Conservator, is charged with the ward's property and financial affairs.

A Conservator or Guardian can be appointed for any person who needs assistance making decisions, such as:

  • An older person
  • A person with disabilities
  • A minor
  • A person temporarily incapacitated

Legal documentation such as Letters of Conservatorship, Letters of Guardianship or a Court Order is required. 

Documentation must:

  • Be signed by a Judge or Court Official
  • Have a Court Seal

Call Center Procedure

If a Conservator/Guardian calls advising they have been appointed, then the designated Customer Service Team Member completes the following steps:

1. Advise the Conservator/Guardian to send the documentation to the Written/Research Team via email or mail requesting a review.

Note: The legal documentation must include a Court Seal and a signature by a judge or court official.

2. Access MSP and notate the loan on the SERN screen, indicating that the Conservator/Guardian called to inquire about being authorized on the account and that they were advised to send documentation in writing.

To verify if a loan has a Conservatorship/Guardianship:

  1. View the MEM1 screen and look for the verbiage shown below:

Received [Conservatorship or Guardianship] for [Borrower name] appointing [Name of Conservator/Guardian] to act on the borrower's behalf.  Customer is no longer authorized to make changes; all changes must go through the appointed [Conservator or Guardian].