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Information for Single-Family Lending and Real Estate Professionals
 
Program Announcement

February 20, 2018
Aged Collateral Policy for Lakeview Loan Servicing

Lakeview Loan Servicing has just announced a new “Aged Collateral” price adjustment of -0.250 on all loans not purchased within 75 days of the Note Date. Exceptions may be granted with prior approval from Lakeview Loan Servicing, or in the event of a FEMA Declared Disaster.

This new policy is effective February 26, 2018.

Lakeview Loan Servicing will place the following suspense condition on loans having reached the 75 day mark:

AGED COLLATERAL NOTIFICATION – The current loan record age has now reached 75 Days from Note date. The final price of this loan record may incur an additional 25 bps negative price adjustment as a result of the loan’s age. Bayview Client Manager to review and clear.

It is important to deliver your files within the above time frame to avoid the aged collateral fee.

If you have any questions regarding Lakeview’s new policy please contact them directly.

Questions? Contact Corinna.obar@wshfc.org 

                               

 
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