CORRESPONDENT REPLACEMENT RESERVE ... - Forms/Word Docs/Replacement...Web viewReview the request and verify compliance with the loan documents and replacement reserve agreement

  • Published on
    25-May-2018

  • View
    216

  • Download
    4

Embed Size (px)

Transcript

<p>CORRESPONDENT REPLACEMENT RESERVE DISBURSEMENT FORM</p> <p>CORRESPONDENT REPLACEMENT RESERVE DISBURSEMENT FORM</p> <p>SFB LOAN # </p> <p>Correspondent Name: </p> <p>Property Name</p> <p>Property Location</p> <p>Amount Requested $</p> <p>Date of request</p> <p>Amount in Reserve Account $</p> <p>As of Date</p> <p>Replacement Request Period</p> <p>From</p> <p>Thru</p> <p>Date of Last Replacement Reserve Disbursement </p> <p>Replacement Reason(s):</p> <p>|_| HVAC</p> <p>|_| Floor Coverings</p> <p>|_| Appliances</p> <p>|_| Paving</p> <p>|_| Roof</p> <p>|_| Other (Please List): </p> <p>** Please Review Agreement to confirm all expenditures are allowable.</p> <p> I</p> <p>CHECKLIST: (Complete either A or B)</p> <p>A. If amount requested is in EXCESS of $25,000.00:</p> <p>|_|</p> <p>1.</p> <p>Review the request and verify compliance with the loan documents and replacement reserve agreement.</p> <p>|_|</p> <p>2.</p> <p>Verify all work and/or replacements are complete:</p> <p> (a) Date physical inspection was made: </p> <p>|_|</p> <p>3.</p> <p>Submit this form along with the borrowers request, all supporting documentation and correspondent recommendations to Southern Farm Bureau for review.</p> <p>|_|</p> <p>4.</p> <p>Review reserve account to assure deposits are being made to replenish account in accordance with the loan documents.</p> <p>B. If amount requested is LESS than $25,000.00:</p> <p>|_|</p> <p>1.</p> <p>Review the request and verify compliance with the loan documents and replacement reserve agreement.</p> <p>|_|</p> <p>2.</p> <p>Verify all work and/or replacements are complete:</p> <p> (a) Was physical inspection made? NO|_| YES|_| DATE (if YES): </p> <p>|_|</p> <p>3.</p> <p>Approve and disburse allowable funds from the borrowers reserve account.</p> <p>|_|</p> <p>4.</p> <p>Review reserve account to assure deposits are being made to replenish account in accordance with the loan documents.</p> <p>|_|</p> <p>5.</p> <p>Maintain all correspondence and supporting documentation in Correspondents office.</p> <p>|_|</p> <p>6.</p> <p>Complete and submit this form to Southern Farm Bureau along with a copy of the disbursement check, wire or reasons for denial.</p> <p> II</p> <p>Comments/Recommendations:</p> <p>III</p> <p>To be completed by SFB if amount EXCEEDS $25,000</p> <p>To be completed by Correspondent if amount is LESS than $25,000</p> <p>A. Check one:</p> <p>|_|</p> <p>Request Approved</p> <p>|_|</p> <p>Request Denied - Give reasons: </p> <p>|_|</p> <p>Request Partially Approved - Reasons for partial denial: </p> <p>B. Approved Disbursement Amount: </p> <p>$ </p> <p> Date Sent: </p> <p>Correspondent:</p> <p>Request Processed By:</p> <p>SFB Approval (If in excess of $25,000):</p> <p>Revised 07.03.13</p>