Entry: User, alphanumeric
F/M: Yes
Mnemonic:
Screen: Account Delinquency; Bankruptcy; Foreclosure & Repossession & Judgment; Collection Queues, Detail & Queue Processing tab, Comments tab
Field Group: Comments
Use this field to indicate the main reason the loan is delinquent. When this information is entered and saved, the code and full description is displayed in the history section below.
The delinquency reason and delinquency Status Codes and descriptions are defined by Freddie Mac and Fannie Mae and are used on their delinquency reports; they cannot be changed. The delinquency reports are:
•Collection Activity Report (FPSRP132)
•Delinquency Report (FPSRP014)
The following is a list of reason codes:
| 001 | Death of Principal Borrower |
| 002 | Illness of Principal Borrower |
| 003 | Illness - Borrower's Family Member |
| 004 | Death of Borrower's Family Member |
| 008 | Abandonment of Property |
| 009 | Distant Employment Transfer |
| 012 | Inability to Sell Property |
| 013 | Inability to Rent Property |
| 022 | Energy-Environment Costs |
| 029 | Transfer of Ownership Pending |
| 031 | Unable to Contact Borrower |
| 034 | Eligible Disaster Area |
| HMP | Home Affordable Modification Program |
