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How To #5 - Step 1A Obtain a List of Borrowers

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Question
How To #5 - Step 1A Obtain a List of Borrowers How do I get the list of names?

Answer

The HUD database (list of names) is available to you on the Search HUD List tab of the web-based software and is the best place to get started with refund processing. Please use the below information to help you create a list of borrowers.

Search HUD List TAB

On the Search HUD List screen you input search criteria that creates a list of borrowers for you to work with. You’ll want to choose a search strategy that can give you a workable chunk of data. Smart Tools suggests you start with your zip code. The next steps will walk you through how to do that.

Find Records By Location

On your screen look for the section titled Specify Address Information, you may have to scroll down to find this section.

City: Type in the city name you wish to search for, for example: Boise

State: Type in the two letter state code, for example: ID for Idaho.

*Note: City and State works well for small towns, but for larger cities like Seattle it is best to use a zip code.

Zip: type in the 5 digit zip code, you can find zip codes at http://www.whitepages.com/area_zip_codes

Your search input should be City and State or Zip, not all three. For example:

OR
 
 

Search Results

Once you enter your search criteria, hit the SEARCH button and wait. If there are a lot of records to be found, the search can sometimes take 30 seconds or so (depending on your internet connection). Your results will display below the search criteria input fields. You may have to scroll down to see it.

The results of your search will be displayed on the bottom half of the screen. At the top of the list, it will tell you how many records are displayed out of how many records that match the search criteria. “1 to 25 of 478” means there are 478 total records that match the search criteria, and you are able to view records 1 through 25 on the current screen.

Below where is states "Search HUD Data: Results 1 to 25 of" there is a box with the page number. If there is more than one page, you can select a page number from the drop down or you can select on the arrow to page forward.

 

Explanation of data fields on the Search HUD List

There are six columns in the database.  We will talk about the first two columns in a different tutorial.  In this tutorial we are talking about the information found on the list.  Below is an explanation of each field.

Mortgagor Name: This is the borrower, also known as (aka) the claimant.

Case Number: Needed for working with HUD.

Mortgagor Address: This is the last address HUD/FHA had on file for the borrower. However, this does not automatically mean that it is current.

Property Address: This is the address of the property that the HUD/FHA loan was for. If the property address and the mortgage address are the same, this is the last address known to HUD/FHA.

Servicing Mortgagee: This is an internal code number HUD uses to identify the bank. It is not needed for any paperwork submitted to claim the refund and HUD will not release that information.

Date Mtg Paid: This is the date the loan secured by the property listed was paid in full resulting in a refund owed to the borrower.

Refund Amount: This is the amount due back to the borrower. It is the unearned premium of the Mutual Mortgage Insurance (MMI) they paid when they first opened the loan.

Once you've mastered creating a list of names using the Specify Address Information section you might find that you want to refine your list of names.

Refine Your Search

You'll want to choose a search strategy that can give you a workable chunk of data using the refining fields of the Specify Mortgagor Information Section (it's the first section on the page).  Inputting select information in these fields will help to narrow your results.

First we suggest you start with your zip code, (Specify Address Information section), click on Search and then refine your search.

Look for the Refund Amount fields. There is a dropdown box with three options = (equal to), > (greater than), and < (less than), select an option that will give you the best results. For example when you type 1100.00 in the field after your options of =, >, or <; the database is either going to look for refunds = 1100.00, refunds > 1100.00, or refunds < 1100.00.

Tip: Searching for only the highest refunds may seem like a great idea, keep in mind, you won't be the only one thinking that. Consider starting with nearby zip codes. Your local phonebooks may help you locate these people.

Once you enter your search criteria, hit the SEARCH button and wait. If there are a lot of records to be found, the search can sometimes take 30 seconds or so (depending on your internet connection). Your results will display below the search criteria input fields. You may have to scroll down to see it and just like before the results of your search will be displayed on the bottom half of the screen.

You can refine your list even further by inputting dates in the Date Mortgage Paid fields. You can enter a time span, or a precise date. This section gives you the following drop down options = (equal to), > (greater than), < (less than), and "Between". When using the =, <, and > options, only input one date. When using the "Between" option you will input two dates, one date before the "And" and one date in the field after. Be sure to enter your dates using the following format: MM/DD/YYYY.

Below where is states "Search HUD Data: Results 1 to 25 of" there is a box with the page number. If there is more than one page, you can select a page number from the drop down or you can select on the arrow to page forward.

*NOTE: If the results show "Displaying 0 to 0 of 0" it does not mean that you've made an error. It simply means there is nothing on the list that meets the refining criteria you have selected. Try changing the dates or lowering the Refund Amount.

Searching for a Specific Person

After you have made contact with a potential client you can use also use the Specify Mortgagor Information section of the Search HUD List tab to find them quickly by inputting specific information.

For example:

Case Number: enter the 10 digit case number, including the dash, i.e. 569-054639 or

First Name: enter a name or

Last Name: enter a name

This also works great for finding friends who may be due a refund. When searching by Case Number or Name, leave the Specific Address Information fields blank, and then select Search.

Remember you can start a new search at anytime by clicking on the "Reset" button. This will put all fields back to their default settings.

Saving the Search Results

Once you have created a basic list of names, you will want to either refine the list further (covered in another training article) or select records of claimants you want to reach out to and save them to your My Updated List.  Once you save records to your My Updated List you can begin creating letters to those claimants. 

Click on the “Check Box” in the list Header.  This will select all of the records listed on that page.  Click on the “Notebook and Pencil” icon to send all of those selected records (you may have to scroll all the way down to the bottom of the screen find this icon) to your My Updated List page.

If you review the list and only want to work with one or two records, select on the check box in front of the record you want to work with.  Then click on the “Notebook and Pencil” icon.

The “pencil” icon opens the record, but does not automatically save the record to your My Updated List.

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Article Details
Views: 9299 Created on: Apr 17, 2012
Date updated: Aug 16, 2012
Posted in: How To Training
Tagged: How To, Video


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