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RC_LA_CM_200.6 Cash Processing

1-5 CMB Points Education Intermediate Loan Administration & Servicing Residential Residential Certified Mortgage Servicer (RCMS) Self-Study Web-Based Courses
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Member $50.00
Non-Member $100.00

Each month, servicers receive mortgage payments that must be posted accurately based on the terms of the loan note. Payments may arrive electronically or by check and are processed either automatically or by the cashiering team. Regardless of the method, servicers must follow strict requirements for how payments are posted—especially when handling payoffs, exceptions, or escrow-related funds.

Cash Processing introduces the key procedures and rules mortgage servicers must follow when applying borrower funds. The course begins with how payoffs are calculated and posted based on investor and agency guidelines. It then explains how to handle exception payments—such as overages, shortages, or ambiguous borrower instructions—and concludes with a review of how escrow-related funds are applied and refunded.

This is a single-family/residential course.

Topics:

  • Payoff Posting Rules
  • Posting Exception Payments
  • Processing Escrow-Related Funds

     

    Seat time approximately 30 minutes.

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