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How do I process an information statement?

Information Statements Process Playbook

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Step 1: Receive Statement Request

  • Information Statement requests typically arrive via email or fax

    • By Email:

      • Ensure the conversation is associated with the correct mortgage.

      • If a ticket was created, move it to the Statement Request: Information Statement Request pipeline.

    • By Fax:

      • Save the fax as a PDF and associate it with the correct mortgage.

      • If no ticket was created, create a ticket in the Statement Request: Information Statement Request pipeline.

    • Note: Associating the ticket with the mortgage will automatically link all relevant contacts (Borrowers, Guarantors, Investors).

    • Change the ticket status to In Progress.

  • Fee: $175

  • Reply to the request:

    • Notify the requester of the fee.

    • Attach payment instructions.

    • Inform them of the 2-3 business day turnaround.

    • Await confirmation before preparing the statement.

    • Ensure their written consent is logged in the Communications on HubSpot

In Progress

Step 2: Statement Preparation (MA)

  1. Open MA and confirm you are assigned as the Servicing Specialist.

  2. Go to Payments, Adjustments, and Charges:

    • Click "+Charge" → Select "One-Time."

    • Enter current date.

    • Name: "Information Statement Fee"

    • Amount: $175

    • Click "Confirm."

  3. Go to Discharge Section:

    • Set a realistic Discharge Date (typically two business days ahead).

    • Scroll to Interest and Fees:

      • Per-diem Total is auto-calculated.

      • Remove Early Term Penalty and Discharge Fees (unless outstanding fees exist).

      • Confirm holdback amount with Accounting, if applicable.

  4. Go to Lawyer Section:

    • Ensure Loopstra Nixon is selected.

    • Clerk should be Jamie Anderson (update if necessary).

Step 3: Generate Information Statement

  1. Go to Documents Section:

    • Select "Preview Discharge Statement."

    • Change template to "Information Statement - LIVE."

    • Verify date and calculations.

    • Confirm Per Diem calculation: Principal x Interest Rate / 365 x Days.

    • If incorrect, make necessary corrections in MA Discharge Section or where applicable and preview again to verify. Use Content Editor sparingly and only if absolutely necessary.

    • Click "Confirm Document."

  2. Sign the document at the bottom left.

  3. Download and save the document.

Step 4: Submit for Approval

  • Create a ticket for Approval (Category: Information Statement)

  • Attach supporting documents, including the Information Statement.

  • Mark as High Priority, if necessary.

  • Update ticket status to Approval Pending

Approval pending

Managers use the Approval pipeline to manage their approval tickets.

When the tickets reach a stage of Approved, the related ticket will automatically be updated to a stage of "Approval received".

Approval received

Step 9: Final Steps Post-Approval

  1. Send the Information Statement PDF to the requester.