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DELINQUENCY INTERVIEWS
The interview is a crucial part of the servicing cycle. Even though this may be a requirement for insured loans, the interview inspection may be our first opportunity to make contact with the mortgagor. Our representatives are instructed to make an honest effort to make contact on your behalf. If contact is not possible, an urgent message card is left at each property instructing the mortgagor to contact you at once.
Quantum Facs regularly receives contact ratios providing the field reps with valuable feedback with respect to making effective contacts.
This contact information may become invaluable in helping the collection department to collect monies in arrears.
PROPERTY INSPECTIONS
Property inspections furnish three essential items within the foreclosure process:
1. Occupancy status
2. Property condition
3. Adherence to insured loan status
BANKRUPTCY INSPECTIONS
The only difference between the bankruptcy inspection and the foreclosure inspection is the information provided under the occupancy status. By law, we may not make contact with the mortgager; therefore, the information you receive on occupancy is generally limited to whether the property is occupied or vacant.
SALES DATE INSPECTIONS
The Quantum Facs field rep visits the property the day of the scheduled sale. At that time our rep reports on occupancy and property condition. If occupied, we attempt to determine names of all occupants.
LOSS DRAFT (INSURANCE LOSS) INSPECTIONS
These inspections are done as ordered by you. Our field reps are instructed to make contact with the mortgager within twenty-four hours of receipt of the order loss draft. You will be updated at the end of each day with respect to the status of the inspections until completed. Sample Form
MERCHANT SITE INSPECTIONS
We perform site inspections of commercial businesses to verify operation, type of business, observable inventory, business hours, and other information as required by your institution.
COMMERCIAL INSPECTIONS
Commercial inspections are customized to meet our clients' individual requirements. These inspections may be as simple as confirming operation or as complex as taking a rent roll.
PROPERTY PRESERVATION
Sample bid form Sample
property condition report
ALLOW ACCESS
By request, we will arrange to have an independent contractor allow access for an individual (s) to a property secured with a HUD master key, or the key code specified for the loan type. For properties not previously secured, a lock change will allow the individual (s) access to the property for the length of time requested, or the keys to the property will be provided. Then ensure the windows and doors are locked prior to departing the premises.
BOARD OR SCREEN TO
AREA SPECIFICATIONS
Under this order type, the broken windows found at the property would be boarded or screened according to the area regulatory requirements for the loan type. When regulatory guidelines are not applicable for the loan type, or unless otherwise instructed, the HUD specifications will be followed.
DEBRIS REMOVAL
This property preservation request authorizes our independent contractor to remove interior, exterior or hazardous debris at the property as authorized by client request or the regulatory specifications for the loan type. For loan types with no applicable regulatory specifications, the HUD specifications and HUD reimbursable fee schedule will be followed. If the debris, for any loan type, cannot be removed for the published reimbursable fee, an estimate will be provided.
EVICTION SCHEDULING AND COMPLETION EVICTION FORM
Quantum Facs will make the necessary arrangements with the local law enforcement officials, moving companies (where required by local or state law) and securing crew to complete the eviction. Our contractors will perform and complete the eviction according to the regulatory specifications for the loan type, unless otherwise instructed by the local law enforcement official on site, or local/state statute. ** Please note ** there is a minimum fee for the dispatch of personnel for all scheduled evictions. Contact us for details.
LAWN MAINTENANCE
Quantum Facs will perform the necessary lawn maintenance to maintain the property’s appearance, prevent further degradation to the grounds and relieve the property of any existing or potential violation of local ordinance. As with any property preservation order, the HUD specifications, pricing schedule will be followed for all loans with no applicable regulatory guidelines, unless otherwise instructed. The standard completion objective is no greater than 10 business days.
Quantum Facs also provides an automatic grass cut programs, where we will maintain the grounds at the property according to the applicable regulatory guidelines for the loan type. We will continue maintaining the grounds at the property until instructed to remove the property from the program, or maintenance is no longer required, as specified by the regulatory specifications for the loan type and /or client profile.
LOCK CHANGE
Under this order, Quantum Facs will change the lock (s) at the property to the key code according to the regulatory requirements for the loan type, unless otherwise instructed. For loan types with no applicable regulatory guidelines, the HUD guidelines, and fee schedule, will be followed.
MINIMUM SECURING
TO SPECIFICATIONS
This order authorizes Quantum Facs to perform all necessary property preservation according to the applicable regulatory guidelines for loan type or client profile. For loan types with no applicable regulatory guidelines, the HUD guidelines and fee schedule will be followed. Services typically include changing entry lock or keyway, locking all windows and doors, winterizing to the applicable specification and maintaining the grounds when in season.
PADLOCK POOL GATE
TO HUD SPECIFICATIONS
Upon request, Quantum Facs will secure the pool/hot tub gate according to the HUD specifications for the area the property is located. This service may also be provided on any securing order, when required by the regulatory guidelines for the loan type.
PREPARE TO CONVEY
After the foreclosure sale is held or the redemption expires for the property, Quantum Facs will ensure all necessary work required by the regulatory guidelines for the loan type is complete, and the property is in conveyance condition. If any work is needed to bring the property into conveyance condition, and can be completed for the loan types published regulatory fee schedule, the work will be completed under this order. If the work cannot be completed for the published fee, an estimate will be provided to bring the property into conveyance condition.
RESECURE AS
REQUIRED
This order authorizes Quantum Facs to return and secure an unsecured property that was previously secured. The property will be secured according to the regulatory specifications for the loan type, (unless otherwise instructed).
SECURE POOL AS AREA SPECIFICATION
Quantum Facs will secure the pool or hot tub at the property according to the regulatory requirements for the loan type. This could include decking, screening, pumping water out of the pool, chemical treatment and padlocking the pool gate if required. If no regulatory guidelines are applicable for the loan type, the HUD guidelines and pricing schedule will be followed. As with any property preservation work, if the work cannot be completed for the published price, an estimate will be provided to complete the securing.
WINTERIZATION TO
SPECIFICATIONS
This order authorizes to Quantum Facs to winterize the plumbing
at the property, to prevent freeze damage, according to the regulatory
requirements for the loan type. If there are no applicable regulatory
guidelines for the loan type, the HUD guidelines,
and pricing schedule, will be followed. If the work cannot be completed for the
applicable published price, an estimate will be provided to complete the
winterization.
****THE SERVICES COVERED ABOVE ARE AVAILABLE COUNTRYWIDE****