General Industry Basics

Mortgage Field Services refers to what three processes provided for properties in the process of foreclosure?

The first step in the foreclosure timeline is:

A Final Notice and Demand Letter are both required under what foreclosure process?

When a natural disaster occurs, the foreclosure process may stall, this is due to:

The main objective of an inspection is to:

This is the legal action taken to satisfy the outstanding balance on the mortgage:

Field Service Companies may complete the following services in Pre-Sale

SLA stands for:

What is one of the best ways to create an advantage against a competitor?

The quality of work performed has an impact on the following:

The following information is required when reporting on a Mobile home.

The following are classified as Improperly Completed Services

This type of lending has a higher risk for default?

Business Owners should track the following for Independent Contractors:

Site visits should include:

Security software should include the following:

Digital cameras should include the following features:

Who is responsible for the loss on an Uninsured Conventional Loan?

Geotags include the following information:

Criteria designated to identify duplicate photos programmatically can include:

FNMA is the abbreviation for:

Borrowers are charged a fee as part of their monthly payment on FHA loans to:

Property is sold via court or sheriff auction in which foreclosure type?

The borrower is notified of the sheriff sale prior to the sale.

Final Notice and Demand Letters are only sent if the property is found vacant.

Final Notice and Demand Letters are only sent if the property is found vacant.

Reporting damages and loss of personals can stall the foreclosure process

Inspections continue regardless of bankruptcy filing.

The property remains the responsibility of the Servicer until it is conveyed to the Insurer or sold as an REO property.

Code Violations can be handled during post-sale preservation only.

Quality training should only apply to the current servicer you are working for.

Inspectors and Contractors should maintain best practices across Field Service Providers.

General Liability insurance is intended to protect against physical damage or financial claim losses due to erroneous or inaccurate reporting.

Service Fees are collected by the Servicing company.

Erroneous reporting of occupancy is a common preventable claims issue.

Costs for repairs required due to erroneous reporting can be passed on to a Field Service provider.

Delays in Inspection or Preservation Services are eligible for curtailment charges.

Insurance will not cover a delayed response on FTV reporting.

Photographs are only required on First Time Vacancy reporting.

Servicers can be held accountable for the entire loss of a loan.

Timelines for service should be established in the Independent Contractor Agreement.

Quality training should only apply to the current servicer you are working for.

Inspectors and Contractors should maintain best practices across Field Service Providers.

General Liability insurance is intended to protect against physical damage or financial claim losses due to erroneous or inaccurate reporting.

General Liability insurance is intended to protect against physical damage or financial claim losses due to erroneous or inaccurate reporting.

Service Fees are collected by the Servicing company.

Erroneous reporting of occupancy is a common preventable claims issue.

Erroneous reporting of occupancy is a common preventable claims issue.

Delays in Inspection or Preservation Services are eligible for curtailment charges.

Insurance will not cover a delayed response on FTV reporting.

Photographs are only required on First Time Vacancy reporting.

Servicers can be held accountable for the entire loss of a loan.