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8.38 Disaster Areas
The Federal Emergency Management Agency (FEMA) announces Presidentially declared major disasters and emergencies. The declaration is usually made after the event has already occurred.
It is the Client’s responsibility to determine and...

Resources > FAQ > CHAPTER-8-FILE-DELIVERY > 8-38-Disaster-Areas

8.39 Escrow Holdback/Completion Escrow
Loans closed with escrow holdbacks are only eligible for purchase by PHH if the work cannot be completed due to weather or unless all funds have been disbursed.

Resources > FAQ > CHAPTER-8-FILE-DELIVERY > 8-39-Escrow-Holdback-Completion-Escrow

8.40 Commitment Letters
In accordance with state regulations, the following states require a written commitment letter be delivered to the borrower. A copy of the commitment letter meeting the state requirements must be included in the original submission of the loan for...

Resources > FAQ > CHAPTER-8-FILE-DELIVERY > 8-40-Commitment-Letters

8.6 Wire and Bailee Letter
All closed Loan Files must include the correct wiring instructions. The following information must be included:
  • Client name and address
  • Warehouse bank name, address, and phone number
  • ABA routing number (9...

Resources > FAQ > CHAPTER-8-FILE-DELIVERY > 8-6-Wire-Instructions-and-Bailee-Letter-(1) > 8-6-Wire-Instructions-and-Bailee-Letter

8.6.1 Wiring Instructions
Wiring instructions included in a Loan File must match with the instructions approved for the Client at the time of Client approval.
When there is an addition or change of wiring instructions or warehouse banks, the information must be sent...

Resources > FAQ > CHAPTER-8-FILE-DELIVERY > 8-6-Wire-Instructions-and-Bailee-Letter-(1) > 8-6-1-Wiring-Instructions