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• <br /> IT department will work with the Client's staff to electronically transmit servicing data in an agreed upon <br /> format. <br /> • <br /> Loan Reconstruction <br /> • <br /> If requested by the Client,Servicer will prepare a loan reconstruction to determine posting accuracy and <br /> compliance with promissory notes, truth in lending statements, and other applicable related loan <br /> documents. This Involves a detailed review of loan terms and reconstructing the posting of payments in <br /> accordance with the terms. <br /> Collections and Loss Mitigation <br /> Collection efforts are conducted in accordance with the Client's requirements, pertinent regulations, <br /> GSC/insurer requirements and industry standard'practice.These'actiVittes include the following•steps: <br /> 1. Delinquency/Default Letter Production: Letters of varying tone and composition will be sent at 15, <br /> 30,45,and 90 days past the payment due date.The 45-day letter will include the Consumer Financial <br /> Protection Bureau (CFPB) mandated notification Informing the borrower of the available loss <br /> mitigation options.The 90-day letter will detail forthe borrower possible escalated collection activity <br /> up to and including foreclosure.The letters emphasize the seriousness of the situation,the potential <br /> for loss of the borrower's property,and demand immediate payment.Borrowers are also encouraged <br /> to apply for federal or state relief programs that may be available. <br /> 2. Due Diligence Phone Calls:Attempts are made in accordance with MUD guidelines for contacting the <br /> borrower as soon as the loan becomes delinquent.Telephone calls will be placed on a regular basis <br /> as loans remain under active delinquency follow up. Calls to single family mortgage borrowers are <br /> made in accordance with CFPB guidance and best practices. Live contact Is attempted with the <br /> borrower beginning not later than the 17th day of delinquency,under a good faith goal of establishing <br /> contact with the borrower by the 36th day of delinquency. One or more subsequent attempts to <br /> contact the borrower will generally be made every 30 days thereafter.The objective-of the call is to <br /> secure or demand prompt payment, obtain information regarding the reason for the delinquency, <br /> and to structure a commitment for future payments. <br /> 3. •Credit Reporting: Servicer will report borrower payment activity and status codes to the credit <br /> bureaus monthly. <br /> 4. Confirmation Letters: Contact with borrowers is used to solicit commitments to repay past due <br /> amounts. Borrowers are provided an opportunity to bring the loan current Immediately,and within <br /> six months. Once a commitment is gained,Servicer will forward a confirmation letter to document <br /> both the call and the commitment.The revised payment plan of no greater than six month's duration <br /> is then Implemented. Default under this plan may lead Servicer to recommend foreclosure. <br /> S. Additional loss mitigation activities such as skip tracing and door knock services are available upon <br /> request. The scope and fees associated with these services will be determined and agreed upon by <br /> both the Client and Servicer, <br />