Submit STOS VPC to Servicing Transfer Manager
Once the green banner displays on the Flow Request page noting the loan(s) have been successfully saved for exclusion, you can submit the final loan list to Servicing Transfer Manager.
How to submit STOS VPC exclusions to Servicing Transfer Manager
1. Click the SUBMIT button in the top right corner of the Flow Request page.
2. The Contact Details pop-up box displays. Click in the text box and enter the contact information (i.e., email address and phone number) for the Transferee. The Transferor contact details will auto-populate by the system; you are able to modify the details.
Note: The contact information (i.e., email and phone number) for the Transferor and Transferee are required data fields.
3. Click CONTINUE or CANCEL.
| Select: | To: |
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Continue with the STOS VPC submission. |
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Cancel the transfer submission. |
4. A "Warning: Creating New Submission?" pop-up box displays with the message: "Are you sure you want to submit with the following from the list? To continue, please click Confirm Submit button."
The pop-up box shows the number of loans eligible for the transfer (i.e., 50), number of loans submitted for transfer (i.e., 44), and number of loans excluded from the initial loan list for the transfer (i.e., 6). In addition, this pop-up box displays the contact information for the Transferor and Transferee that was provided on the Contact Details page.
Click CONFIRM SUBMIT or CANCEL.
| Select: | To: |
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Acknowledge and agree that the Servicing Contract Rights (SCR) are governed by and subject to the VPC Agreements and Amendments, as applicable. Confirm and submit the STOS VPC transfer. |
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Cancel the transfer submission. |
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Edit the Transferor and/or Transferee contact information |
5. The Flow Request page displays with a green banner of a successfully created transfer request in Servicing Transfer Manager. Once the Servicer submits the final loan list, Servicing Transfer Manager automatically creates a transfer request for the STOS VPC.
The Submitted and Excluded indicators populate with the count of submitted loans (i.e., 44), the count of excluded loans (i.e., 6) and the 'Selected to Exclude' count returns to zero upon the Servicing Transfer Manager submission.
The Flow Request page shows the excluded loans with the excluded reason and the status type as EXCLUDED.
The Servicer can modify the request through Servicing Transfer Manager. Refer to the Modify Request section.
6. Upon completion of the STOS VPC transfer submission, the Servicer's listed contact in Servicing Transfer Manager will receive an email notification.