Posted by Thomas K. Standen on September 11, 2010 at 11:17:16:
I have used this form for gathering data needed to evaluate notes, it may be helpful to you.
NOTE BACK UP PACKAGE
Beneficiary __________________________________________________________________________
Street Address _______________________________________________________________________
City ________________________________________ State ______________ Zip Code ___________
Phone: ( _______ ) ________ - _____________
Fax: ( _______ ) ________ - _____________
E-mail Address ____________________________________________ SSN #: _____________________
Trustor/Payor ________________________________________________________________________
Address _____________________________________________________________________________
City ________________________________________ State ______________ Zip Code ___________
Phone: ( _______ ) ________ - _____________
Fax: ( _______ ) ________ - _____________
E-mail Address ____________________________________________ SSN #: _____________________
Note Information
Original Loan Amount $______________ Balance _______________
Interest Rate _______________ Term _______________
Monthly payments _______________ Date 1st pmt _______________
Number pmts made _______________ Number pmts left __________________
Next payment Due _______________ Are the pmts current ?E yes ?E no
Balloon Date _______________________________ Balloon payment $_________________
Position of Note ?E 1st ?E 2nd ?E3rd ?E Other _______________________________________
If this note is Junior to another loan(s)
Notice of delinquency been filed with the Beneficiary of the senior loan ?E yes ?E no
Is there a due on sale on the senior loan ?E yes ?E no
What is the approximate balance on the senior loan(s) $ ________________________
What is the approximate monthly payment on the senior loan(s) $ ________________________
Who keeps track of the payments: ?E Me ?E Loan Servicing Company ?E Title Company ?E Bank
?E Other ______________________________________________________________________________
Location of Original Documents ___________________________________________________________
Note Servicing Center, Inc. ? P.O. Box 77, Midpines, CA. 95345 ? 209-742-5732 ? www.sellerloans.com
Property Information
Property Location ______________________________________________________________________
Selling Price $ ________________________ Down Payment $ ________________________
Sale Date ____________________________ Current Value $ ________________________
Property Type ?E Multi unit residential ?E Single-family residential ?E Commercial ?E Land
CHECK THE ITEMS YOU FEEL ARE NECESSARY TO INCLUDE IN THE BACK UP PACKAGE
?E?n?n?nIntroduction and Summary statement
?E Copy of Note
?E?n?n?nNote Modification
?E?n?n?nSpecial provisions in the note
?E?n?n?nPayment Guarantee
?E?n?n Additional Security
?E?n?n?nPrevious Assignments of Note and Deed of Trust
?E?n?n?nCopy of HUD1 Settlement Sheet from closed escrow (Closing Statement)
?E?n?n Copy of Deed of Trust or other Security Instrument
?E?n?n?nNote History (servicing documents and/or record of payments, etc.)
?E?n?n?nAmortization schedule of remaining balance
?E?n?n?nCredit Report on Trustor/Borrower
?E?n?n?nImpound Account set up
?E?n?n?nVerification of property taxes paid
?E?n?n?nTax service on the property
?E?n?n?nCopy of Insurance Policy on the property
?E Property Profile
?E?n?n?nTitle Insurance policy
?E?n?n?nAssessors Parcel Map
?E?n?n?nCopy of Grant Deed
?E?n?n?nProperty photos
?E?n?n Copy of Property Appraisal
Note Servicing Center, Inc. ? P.O. Box 77, Midpines, CA. 95345 ? 209-742-5732 ? www.sellerloans.com