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Reporting Mortgage Loan Purpose Type Statistics

Once the necessary servicing data is available, the investor runs a loan purpose type report that details loan purpose type statistics by seller. Loan purpose type reports vary depending on the reporting needs of the investor. The loan purpose type report detailed in this article is intended to fulfill an investor requirement to report month end overall seller loan purpose type percentages.

Creating the Report...
Seller's Active Servicing Loan Purpose Types
The Seller's Active Servicing Loan Purpose Type is the seller's total active servicing dollar amount by loan purpose type divided by the seller's total active servicing. The following steps generate a report of the seller's active servicing loan purpose types and reports each loan purpose type as a percentage of active servicing.

Step #1
The seller's total active servicing is calculated.

The seller's total active servicing is equal to the sum of the principal amount of all loans in the investor's servicing portfolio, for the seller, where the loan's status is Active, Repurchase, Bankruptcy, Foreclosure, Prepayment or Early Payoff. Typically, the only loans excluded by an investor when calculating the active servicing for a seller are those that have been sold servicing released by the investor and paid in full loans that are not considered early payoffs.

Step #2
The seller's active servicing by loan purpose type is calculated.

The seller's total active servicing by loan purpose type is equal to the sum of the principal amount of all loans in the investor's servicing portfolio, for the seller, by the investor's loan purpose type where the loan's status is Active, Repurchase, Bankruptcy, Foreclosure, or Early Payoff. For examples of loan purpose types see the Mortgage Loan Purpose Type Overview section of this article.

Step #3
The seller's active servicing loan purpose type percentages are calculated.

In this step, the report retrieves the seller's active servicing dollar amount from Step #1 and the seller's active servicing by loan purpose type from Step #2. The report compares the total servicing amount from Step #1 to the servicing amount by loan purpose type from Step #2 and reports the results as a percentage.

A Seller Mortgage Loan Purpose Type report similar to the Sample Mortgage Loan Purpose Type Report in the Sample Mortgage Loan Purpose Type Report section of this article can be generated by the investor for distribution to the seller.


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