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19 Articles
Orange arrow How To #12 - Step 4 HUD Issues The Check To The Borrower

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  HUD will mail the refund check to the borrower/claimant. Although the maximum time allowed for HUD/FHA to refund money is 120 days upon receipt of Proof of Ownership documentation and Proof of Identification documentation, generally the customer can expect the check to arrive anywhere from 2 weeks ...
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Orange arrow How To #18: Deceased Mortgagor What do I do if the borrower is deceased? Can the refund still be claimed if the borrower is deceased?

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  In the event that the named claimant is deceased, their legal heir is now entitled to the refund. You will need to create an Authorization Agreement in the name of the new claimant, and all other forms will need to be in this new claimants name as well. This new claimant will need to provide thei...
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Orange arrow How To #7 - Step 1C Send Borrowers an Introductory Letter

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  Your first contact with a potential customer (borrower/claimant) will most likely be through an Introductory Letter. You can create merge letters and forms for up to 25 claimants from the My Updated List tab, or create a letter for one claimant at a time using the Original HUD Data record. How ...
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Orange arrow How To #19: Searching for a Specific Record How do I find someone on my list that I sent a letter to?

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  Each person will devise a way to organize their buisness that works best for them, but here are some times on how you can use the Smart Tools web-based software to help you keep your buisness organized. Searching for a Specific Person After you have made contact with a potential client you can us...
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Orange arrow How To #4 - The 5 Main Steps of Independent Refund Processing. How do I do this?

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  Here are the five main steps for Processing Refunds: 1. Contact the Borrower How To #5 - Step 1A Obtain a List of Borrowers How To #6 - Step 1B Manage Your List of Names Using the My Updated List tab How To #7 - Step 1C Send Borrowers an Introductory Letter 2. Get Contracts and Documents C...
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Orange arrow How To #8 - Step 2A Mail Authorization Agreement With Cover Letter

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  When the borrower contacts you after receiving the Introduction Letter you will explain to them that in order to hire you, they must signed an Authorization Agreement. This agreement defines the services you provide and the expected terms of repayment. Following the letter selection and printing ...
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Orange arrow How To #11 - Step 3 Submit Documentation To HUD

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  Coordinate with your client. HUD must receive the Proof of Ownership and Proof of Identification information on the same day. On the day you and the borrower/claimant both agree all of the proper paperwork is in order, provide the borrower/claimant with the fax number for HUD: 410-637-3548. Put ...
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Orange arrow How To #3: Update Your Business Contact Information-Account Profile Tab How do I update my business contact information for my letters?

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  Locate the “Account Profile” tab on the black tool bar at the top of the web-based software. This tab contains all of your business contact information, it is important to make sure all of your business information is correct. Smart Tools inputs basic information, but it is importa...
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Orange arrow How To #15: Calling a Borrower Can I call a borrower? What do I say if I call the borrower?

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  Calling Borrowers (aka Claimants) Most of our processors rely on mail contact, however you may want to try calling the borrowers (aka claimants) first. We have done some research and located a Frequently Asked Questions (FAQ) web site for the Do Not Call registry. We recommend that you go t...
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Orange arrow Welcome to the Smart Tools Startup Guide for our web-based software.

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  Whether you are new to Smart Tools or you have been using our software for quite some time, we think that you will find our online Help Center to be a very valuable resource. We understand that everyone learns differently so we work to provide as many learning resources as possible: Telephone Sup...
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Orange arrow How To #14: Searching the Internet for a Borrower Link your Peoplefinders.com to Smart Tools How do I find updated addresses for people on the list?

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  The Internet offers a number of resources for locating people, sometimes for free, sometimes for a small fee. Use search engines to find these tools. Some of the charging People Searching sites include (but are not limited to): www.netdetective.com www.intelius.com www.addresses.c...
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Orange arrow How To #9 - Step 2B Send Tracer Found Case Form

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  Send the borrower/claimant the Tracer Found Case Form. Using the process learned in How To #7 for creating a letter select "Tracer Found Case Form-NEW" from the bottom of the letters list for the borrower/claimant. This form must be signed by the borrower/claimant, but does NOT need to be notarize...
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Orange arrow How To #16: Mulitple Claimants Same Case Number Why do two people have the same case number but are owed different amounts? How do I send a letter to someone with zero amount owed? Two people ha

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  When more than one borrower was on a loan, all are entitled to a portion of the refund. HUD lists each qualifying borrower separately. You may notice that HUD lists multiple claimants for the same property in one of two ways. In "community property" states, all claimants listed are due a fairly ...
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Orange arrow How To #5 - Step 1A Obtain a List of Borrowers How do I get the list of names?

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  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 i...
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Orange arrow How To #13 - Step 5 You Get Paid

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  You Get Paid! The borrower is your customer, you are the business owner. You are providing your customer with a service, you decide which forms of payment you will accept: personal check, cashiers check, money order, credit card through Paypal and etc. It is your responsibility to inform your c...
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