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The Transfer Management Project Coordinator is responsible for ensuring an orderly servicing transfer of mortgage loans from a
prior servicer. The following people and processes are in place to support the transfer of loans from Retiring Servicer.
Role
Responsible
Party
Responsibility
Senior Manager,
Servicing Transaction
Management (STM)
Nathan Sands
Manager, STM
Operational Reporting
Kalpak Naik
Manager, STM
Customer Experience
Abhishek Shukla
Assistant Manager,
STM Default Special
Handling
Sachin Khamkar
Assistant Manager,
STM Flow Boarding
Sahir Gujrathi
Assistant Manager,
STM Non Default
Special Handling and
QA
Karan Choudhary
Prachi Kanade
Manzur Mohammed
Manish Mecwan
10
S. Kantharaju
11
STM Project
Coordinator
AS ASSIGNED
12
AS ASSIGNED
13
AS ASSIGNED
Role
Responsible
Party
Description
14
Servicing Transfer
Instructions (STIs)
Nathan Sands
15
Conversion Guide
Kalpak Naik
16
Pankit Upadhyay
17
Transfer Timelines
David Wakefield
18
Action Items
19
Due Diligence
Questions and Results
David Wakefield
20
David Wakefield
David Wakefield
21
22
Karan Choudhary
Karan Choudhary
23
Default Oversight
Sachin Khamkar
24
Foreclosure and
Bankruptcy Mapping
Hashim Hakam
25
Modification Mapping
26
History Lines
27
Notices
28
QA of Core Fields
29
Customer Experience
30
Activation Schedule
Kalpak Naik
31
Transfer
Management/Loan
Boarding P&P
Brandie Thomas
32
Lessons Learned
Pratik Desai
Manzur Mohammed
Manish Mecwan
Manzur Mohammed
Abhishek Shukla
Kalpak Naik
Outlines the data and operational agreements between the transferor and the
transferee
Pre-Transfer Processes
- The Project Coordinator develops the project plan documents to track overall assignments as established in the
Service Transfer Instructions (STI's) Conversion Guide and to be in compliance with policies and procedures.
- The Project Coordinator schedules necessary internal and external meetings with team members to follow up
procedures and to help clarifying uncertainties.
- The Project Coordinator engages IT resources to ensure transfer needs are covered.
- The Project Coordinator provides regular status updates (the Transfer Status Report) to the servicing business units.
Transfer Processes
- The Project Coordinator executes assigned tasks.
- The Project Coordinator tracks the completion of tasks internally following the Process Tracking.
Post-Transfer Processes
- The Project Coordinator monitors the completion of the tasks in the Process Tracking within a timeframe.
The Record Services Department locates, corrects, records, scans, ships, and tracks mortgage
documents following investor guidelines and the requirements determined by the investor and custodian.
The department uses document management vendors to store originals or copies of originals and electronic copies of mortgage documents. Vendor
audits ensure compliance with state and federal document retention guidelines. The Record Services department is responsible for transferring
complete files to new servicers, recovering and correcting documents for investors/custodians, and building positive relationships with servicers,
investors, and custodians by meeting deal requirements and investor guidelines.
The following processes are in place to support the transfer of loans from Retiring Servicer.
Pre-Transfer Processes
Assign a Team to work on the Inbound Transfer.
Role
Responsible
Party
Description
The Record Services sponsor is responsible for overall vision and problem
33
John Mongelluzo
34
Project Director
Patrick Glemser
35
Project Manager
Jamie Leeper
36
Manager
Ken Palmer
37
Manager
Steve Haas
38
Manager
Chad Delfs
39
Transfer In Supervisor
Tracey Hillsgrove
40
Document Control
Supervisor
Maria Thomas
41
Attribution Manager
Abhijeet
Paudwal
42
Jaya Manjunath
solving. This role ensure that Ocwen obtains the servicing records and images
according to the purchase agreement
Complete an Acquisition Transfer In Checklist at the time the deal closed. Review and update the transfer checklist on
a regular basis.
Conduct weekly meetings to develop a plan and approach to receive the physical files and images. Provide transfer
instructions of the physical paper to Retiring Servicer.
Engage Iron Mountain to image and retain servicing files of Agency and MI loans according to the MD10 Ocwen
retention policy.
Ship all non-Agency files to Ocwen West Palm for imaging, indexing and retention according to the MD10 Ocwen
retention policy. This decision was made after the Process Control and Validation Team reviewed a sample of servicing
files and determined the images were not complete based on documents in the physical files.
Transfer Processes
Create (not record) approximately 110k Agency Assignments and provide to the custodians.
- Prepare and record corrective Assignments as necessary based on research findings to correct
chain of title or document errors.
- Prepare, approve and sign Lost Note Affidavits (LNA).
- Prepare and record required POAs.
Images are received, attributed and ingested into CIS (image repository for Ocwen).
Store physical files in West Palm and track their location.
Confirm custodial file locations on collateral transfers, update custodial locations in systems, and reconcile custodial locations for files that appear to
be missing. Clear agency exceptions cited by the custodians.
Post-Transfer Processes
The Process Validation and Control Team performs audits on the acquisition population of loans to ensure there are no gaps, risks, or issues with
the transfer of physical files and images. Iron Mountain will be evaluated on speed and quality.
The Record Services Department meets regularly to discuss status and adjust processes as
necessary. Project leadership meets with key stakeholders to report progress. Transfer issues will
be escalated to management ensuring a smooth transition from ____ to Ocwen.
Role
Responsible Party
Description
43
Escrow Administration
(Insurance)
Department
AS ASSIGNED
44
AS ASSIGNED
45
Automated Clearing
House (ACH) Cashiering
Department
AS ASSIGNED
46
Valuation Department
AS ASSIGNED
47
AS ASSIGNED
48
Real Servicing /
Investor Header SetUp Department
AS ASSIGNED
49
AS ASSIGNED