Title
I Claim for Loss Instructions
OMB
Approval No. 2502-0328
(exp.
10/31/2012)
Public
reporting burden for this collection of information is estimated to
average 1 hour per response, including the time for reviewing
instructions, searching existing data sources, gathering and
maintaining the data needed, and completing and reviewing the
collection of information. This agency may not collect this
information, and you are not required to complete this form, unless
it displays a currently valid OMB control number.
This
information is being collected to permit more efficient risk
management of the Title I loan portfolio as well as facilitate
claims processing for loan defaults. The information provides a
more comprehensive basis for evaluating Title I lender underwriting
practices and thereby improving risk management of the loan
portfolio and also enhances management’s ability to determine
appropriate policy changes affecting the Title I portfolio as a
whole. Responses are required in order to obtain benefits. No
assurance of confidentiality is provided.
This
package contains two pages: the
Transmittal (Part 1), and the Application Voucher (Part 2). Please
keep a copy. Send originals to:
U.S.
Department of Housing and Urban Development
Financial
Operations Center
Attn:
Title I Claims 52 Corporate Circle Albany, NY 12203
Accuracy
and Completeness: All
applicable spaces on the Transmittal and the Application
Voucher must be completed and any omissions or incomplete items
must be explained. Both pages must be signed and dated by an
authorized official of the lending institution, and must be
accompanied by the complete loan file pertaining to the loan
transaction. The original note, security instrument and any related
documents must be submitted with the claim.
Secured
Loans: Any
security interest in the loan must be legally recorded in
accordance with applicable state law. If the lender's security
interest has been recorded, an assignment of this security interest
to the United States of America must also be recorded in the same
jurisdiction prior to filing an insurance claim. Recorded
assignments should include Title I case number for future
identification. [For consistency purposes please use Title I
instead of FHA case number].
Bankruptcy/Decedent
Estate: When
the lender has timely information that the borrower is involved in
a bankruptcy proceeding or is deceased,
a
proof of claim must be filed with the bankruptcy or probate court
having
All
right, title, and interest of the undersigned is hereby assigned
(without warranty, except that the loan qualifies for insurance) to
the United States of America (U.S. Department of Housing and Urban
Development).
U.S.
Department of Housing and Urban Development
Office
of Housing
Federal
Housing Commissioner
Federal
Housing Commissioner
Sensitive
Information: The
information collected on this form is considered sensitive and is
protected by the Privacy Act. The Privacy Act requires that these
records be maintained with appropriate administrative, technical,
and physical safeguards to ensure their security and confidentially.
In addition, these records should be protected against any
anticipated threats or hazards to their security or integrity which
could result in
substantial harm, embarrassment, inconvenience, or unfairness to
any individual on who the information is maintained.
Time
Requirements:
A claim must be filed no later than 9 months after the date of
default for a property improvement loan. A claim for a manufactured
home purchase loan (including lots and combination loans) must be
filed within 3 months after the sale of the property securing the
loan, but no later than 18 months after the date of default.
Exception to these deadlines can be found at 24 CFR 201.54(b)(2) and
(3).
Form
of Assignment: All
notes and security instruments must be assigned to the United States
of America. The assignment must appear on the note or other
instrument being assigned, or on an attachment to the note or other
instrument. The assignment must be in the following form, unless
this form is not valid or generally acceptable in the jurisdiction
where the property is located:
(Name
of Financial Institution)
By
Title
Date
Please
Note that
filling in the information on this sample form does not constitute
an assignment. The above is intended to be used only as a guide.
Refinanced
Loans: Copies
of the note, security instrument and all
other
documents pertaining to the original loan must be retained in the
loan file for the refinanced loan, and must accompany an insurance
claim on the refinanced loan.
jurisdiction.
However, a proof of claim need not be filed if the bankruptcy court
indicates that the borrower has no assets, or if the lender
determines that there will not be a probate proceeding.
Documentation
of
the reason why no proof of claim has been filed must accompany
the
insurance claim.
Payments
Received after Filing the Claim: If
the borrower sends a payment to the lending institution after the
insurance claim has been filed, send the payment with full
identification to:
Title
I Notes
P.
O. Box 105664
Atlanta,
GA 30348
Previous
edition is obsolete
form
HUD-637
(6/2012)
Title
I Claim for Loss
U.S.
Department of Housing and Urban Development
OMB
Approval No. 2502-0328
(exp.
10/31/2012)
(Part
1) Transmittal
Office
of Housing
Read
Instructions carefully before completing this form.
Federal
Housing Commissioner
1.
Names of Borrowers
Check
Items
Enclosed
Only
HUD
Use
A.
Documents
for
Property
Improvement
and
Manufactured
Home
Loans
B.
Documents
for
Property
Improvement
Loans
Only
C.
Documents
for
Manufactured
Home
Loans
Only
9.
Date
10.
Name of Lending Institution
11.
Signature & Title of Authorized Official
Previous
edition is obsolete
form
HUD-637
(6/2012)
3.
Reason for Default
Please
provide the following items listed below and any additional
documents necessary for claim examination and loan servicing.
Where the item does not apply, where the item does not apply,
indicate “N/A”.
1.
Original Note or Retail Installment Contract Assigned to US
1.
Original Note or Retail Installment Contract Assigned to US
1.
Proof of Property Ownership
1.
Proof of Property Ownership
2.
Contract of Work or Written Description with Cost Estimates
2.
Contract of Work or Written Description with Cost Estimates
3.
Completion Certificate
3.
Completion Certificate
4.
Report on Inspection of Improvements (if loan amount ≥
$7,500)
4.
Report on Inspection of Improvements (if loan amount ≥
$7,500)
11.
Appraisal of Repossessed or Foreclosed Property
11.
Appraisal of Repossessed or Foreclosed Property
9.
Condition Report
9.
Condition Report
7.
Placement Certificate
7.
Placement Certificate
2.
Purchase Agreement
2.
Purchase Agreement
1.
Verification of Deposit of Down payment
1.
Verification of Deposit of Down payment
4.
Invoices for Delivery and Set-up, Skirting, Air Conditioning,
etc.
4.
Invoices for Delivery and Set-up, Skirting, Air Conditioning,
etc.
5.
Appraisal of Existing Home and/or Lot
5.
Appraisal of Existing Home and/or Lot
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2.
Title I Case Number
2. TruthinLending Disclosure
2. TruthinLending Disclosure
3. Mortgage, Deed of Trust, Other Security Instrument with Original Recorded Assignment to USA
3. Mortgage, Deed of Trust, Other Security Instrument with Original Recorded Assignment to USA
4. Modification or Assumption Agreements
4. Modification or Assumption Agreements
5. Credit Application
5. Credit Application
6. Consumer Credit Report
6. Consumer Credit Report
7. Verification of Employment and Income
7. Verification of Employment and Income
8. Payment History
8. Payment History
9. Loan and Collection Notes
9. Loan and Collection Notes
10. Underwriters Worksheet
10. Underwriters Worksheet
D. Other
Documents
For Property
Improvement
And
Manufactured
Home Loans
1. Documentation of Collection Efforts After Default
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1. Documentation of Collection Efforts After Default
2. Proposed Modification Agreements or Repayment Plans
2. Proposed Modification Agreements or Repayment Plans
3. Notice of Default and Acceleration
3. Notice of Default and Acceleration
4. Notice of Assignment Sent to Credit Reporting Agency
4. Notice of Assignment Sent to Credit Reporting Agency
5. Notice of Bankruptcy & Proof of Claim Filed in Bankruptcy Court with Assignment to USA
5. Notice of Bankruptcy & Proof of Claim Filed in Bankruptcy Court with Assignment to USA
6. Proof of Claim Filed with Probate Court with Assignment to USA
6. Proof of Claim Filed with Probate Court with Assignment to USA
8. Remarks: To facilitate the processing of this claim, please explain any omissions or incomplete items.
13. Receipts for Repossession or Foreclosure Costs
13. Receipts for Repossession or Foreclosure Costs
14. Invoice for Sales Commission
14. Invoice for Sales Commission
15. Receipts for Resale Costs (e.g. reconditioning, added appliances)
15. Receipts for Resale Costs (e.g. reconditioning, added appliances)
12. Resale Purchase Agreement
12. Resale Purchase Agreement
10. Notice of Sale in Compliance with State Law
10. Notice of Sale in Compliance with State Law
8. Evidence of Ownership or Leasehold for Lot
8. Evidence of Ownership or Leasehold for Lot
6. Manufacturer's Warranty on New Home
6. Manufacturer's Warranty on New Home
3. Manufacturer's Invoice and FHA Supplement
3. Manufacturer's Invoice and FHA Supplement
Title
I Claim for Loss
(Part
2) Application Voucher
Read
Instructions carefully before completing this form.
Title
I Claim for Loss
(Part
2) Application Voucher
Read
Instructions carefully before completing this form.
U.S.
Department of Housing and Urban Development
U.S.
Department of Housing and Urban Development
OMB
Approval No. 2502-0328
(exp.
10/31/2012)
OMB
Approval No. 2502-0328
(exp.
10/31/2012)
Office
of Housing
Office
of Housing
Federal
Housing Commissioner
Federal
Housing Commissioner
Property
Improvement
Property
Improvement
Manufactured
Home
Manufactured
Home
1.
Type of Loan
1.
Type of Loan
2.
Title I Case Number
2.
Title I Case Number
Applicant
Applicant
HUD
Use Only
HUD
Use Only
10.
Original Amount of Insured Loan
10.
Original Amount of Insured Loan
11.
Last Loan Balance
11.
Last Loan Balance
12.
Total Amount paid by Borrower (Principal =
12.
Total Amount paid by Borrower (Principal =
Interest
=
Interest
=
)
)
15.
Name & Address of Lending Institution
15.
Name & Address of Lending Institution
HUD
Use Only
16.
Name & Title of Authorized Official (type or print)
16.
Name & Title of Authorized Official (type or print)
X
Signature
X
Signature
Previous
edition is obsolete
Previous
edition is obsolete
form
HUD-637
(6/2012)
form
HUD-637
(6/2012)
□
Yes Yes
No No
6.
Term of Loan
6.
Term of Loan
7.
Amt. of Each Installment
7.
Amt. of Each Installment
17.
Date of Submission
17.
Date of Submission
3.
Contract Number (HUD Lender ID)
3.
Contract Number (HUD Lender ID)
9.
Name, (last known) Address, (for each borrower)
Social Security Number
9.
Name, (last known) Address, (for each borrower)
Social Security Number
4.
First Installment Date
4.
First Installment Date
5.
Date of Default *
5.
Date of Default *
(mm/dd/yyyy)
(mm/dd/yyyy)
Borrower
Deceased?
Borrower
Deceased?
Borrower
Bankrupt?
Borrower
Bankrupt?
(mm/dd/yyyy)
(mm/dd/yyyy)
Mail
Returned from Last Address?
Mail
Returned from Last Address?
8.
Number of Installments Made by Borrower
8.
Number of Installments Made by Borrower
Borrower
Bankrupt?
Borrower
Bankrupt?
Borrower
Deceased?
Borrower
Deceased?
Deductions
13.
Amounts Retained by Lender after Default (e.g.
suspense payments, escrow balance)
Amounts
Retained by Lender after Default
(e.g.,
suspense payments, escrow balance)
Best
Price Obtainable (MH Only)
Additions
14. a. Repossession and Preservation Costs (MH Only)
b.
Sales Commission (MH Only)
c.
Uncollected Court Costs (Paid Directly to Courts)
d.
Attorney’s Fees (Not to Exceed $500 for PI $1,000 MH)
e.
County Recording Costs (PI Only)
Deductions
13.
Amounts Retained by Lender after Default (e.g.
suspense payments, escrow balance)
Amounts
Retained by Lender after Default
(e.g.,
suspense payments, escrow balance)
Best
Price Obtainable (MH Only)
Additions
14. a. Repossession and Preservation Costs (MH Only)
b.
Sales Commission (MH Only)
c.
Uncollected Court Costs (Paid Directly to Courts)
d.
Attorney’s Fees (Not to Exceed $500 for PI $1,000 MH)
e.
County Recording Costs (PI Only)
*
Defined as 30 days after the due date of the first missed payment.
Certification:
The
undersigned applies for the amount of insurance benefits due under
its contract of insurance and the regulations issued in accordance
with Title I of the National Housing Act for the loan identified
above. In making this application for insurance benefits, the
undersigned certifies that (a) the application is just and in
accordance with the terms of the contract of insurance and the Title
I regulations; (b) all information shown above is true and correct;
(c) all expenses have actually been incurred and are reasonable and
customary in the area where the property is located; (d) all repairs
identified as repossession and preservation costs were necessary to
protect and preserve the property while awaiting resale; and (e) all
foreclosure or repossession activities have been carried out in full
compliance with applicable State and local laws. Upon request, the
undersigned will furnish the Department with an accounting of any
receipts or disbursements included in the amounts shown above.
I
hereby certify that all the information stated herein, as well as
any information provided in the accompaniment herewith, is true and
accurate.
Warning:
HUD
will prosecute false claims and statements. Conviction may result in
criminal and/or civil penalties. (18 U.S.C. 1001, 1010, 1012; 31
U.S.C. 3729, 3802)
*
Defined as 30 days after the due date of the first missed payment.
Certification:
The
undersigned applies for the amount of insurance benefits due under
its contract of insurance and the regulations issued in accordance
with Title I of the National Housing Act for the loan identified
above. In making this application for insurance benefits, the
undersigned certifies that (a) the application is just and in
accordance with the terms of the contract of insurance and the Title
I regulations; (b) all information shown above is true and correct;
(c) all expenses have actually been incurred and are reasonable and
customary in the area where the property is located; (d) all repairs
identified as repossession and preservation costs were necessary to
protect and preserve the property while awaiting resale; and (e) all
foreclosure or repossession activities have been carried out in full
compliance with applicable State and local laws. Upon request, the
undersigned will furnish the Department with an accounting of any
receipts or disbursements included in the amounts shown above.
I
hereby certify that all the information stated herein, as well as
any information provided in the accompaniment herewith, is true and
accurate.
Warning:
HUD
will prosecute false claims and statements. Conviction may result in
criminal and/or civil penalties. (18 U.S.C. 1001, 1010, 1012; 31
U.S.C. 3729, 3802)
Telephone
Contact Number (include area code) & email address
Telephone
Contact Number (include area code) & email address
Mail
Returned from Last Address?
Mail
Returned from Last Address?
LaJuan
Gladden 12211
Kingswell Street Bowie, MD 20721
555-55-5555
Name,
(last known) Address
Social Security Number
Name,
(last known) Address
Social Security Number
Yes Yes
No No
File Type | application/msword |
Author | h45362 |
Last Modified By | atpotts |
File Modified | 2012-10-31 |
File Created | 2012-10-31 |