Settlement Details Section
The Settlement Details section of the Details page contains information specific to settlement. This section populates after a workout request has been approved and includes the following fields:
The table below provides a brief description of each data field in the Loan Details section:
|
|
Field Name |
Field Type |
Definition |
|---|---|---|---|
|
1. |
Final Net Sale Proceeds | Currency | The dollar amount of remaining proceeds from the sale of a property after adjusting for expenses incurred prior to and during sale. |
|
2. |
Actual Borrower Cash Contribution | Currency | The dollar amount in cash that the borrower has contributed towards the delinquent upb/interest. |
| 3. | Actual Investor Relocation Assistance | Currency | The dollar amount that the investor contributed towards the relocation assistance at the time the settlement request was approved. |
|
4. |
Actual Payoff of Second Mortgage Lien | Currency | The dollar amount to pay off the second mortgage lien. |
|
5. |
Closing Date |
Date (mm/dd/yyyy) |
The date on which the short sale workout was settled. |
| 6. | Payoff Date |
Date (mm/dd/yyyy) |
The date that the mortgage was paid off. |
| 7. | Payoff Type | Text | Indicates the type of payoff that was received (i.e., pre-paid payoff, short sale etc.) |