Single Family Asset Sale # 2PRIVATE

Request for selected Loan Files

There are 33 offices identified to participate in the second asset sale tentatively scheduled to be held at the end of January 1996. Approximately 17,000 loans have been selected with the expectation that 15,000 plus loans will be sold.

Loans have been selected using several criteria specified by HQ. Loans must be over 36 months in inventory, not Section 235, not PMMs, having a UPB greater than $1,000, not coded for foreclosure (Status 41). DO NOT SUBSTITUTE other cases that are not on the attached list.

A dBase III Plus file is attached to this message for each individual office. Please download the file and work on it. In the columns for Serv file and legal file sent, you must change the default F to a T if you are sending one or both files to Williams Adley. If you are not sending a case you must give a reason. PIF, or DIL in process are the most likely. Do not start any new Interest rate reduction efforts on cases identified. If one is in process, mark it IRR in process.

Errors will be minimized since you do not have to re-type case numbers, names etc. In the columns mark whether you are sending the collateral file, and/or the servicing file next to each case. Cases can only be excluded if there is a Deed-in-lieu (DIL) acceptance in process or a payoff(PAOF) in process. If any file is not sent the reason for excluding it must be marked next to that case on the dBase record. If there are questions regarding exclusion of cases, please contact Mary Lou Hinchey at HQ, (202) 708-0614 then ext 2294. Do not send any of the identified cases to a foreclosure agent/contractor. If a few cases have been referred to a foreclosure contractor recently and they cannot be pulled back, as might be the case in judicial foreclosure jurisdictions, then mark that the files are excluded with "JFCL". If a case has recently been referred for nonjudicial foreclosure terminate the foreclosure request and retreive the files and send them for the asset sale.


When you have completed the file update, (1) print a copy for your records, (2) make copies to be included in each shipping box and mark the inventory lists for each box with the files in that specific box. (3) ATTACH your updated file to a CC Mail message to Mary Lou Hinchey at FHCPOST4 in HQ. I MUST have it electronically so we can transmit it to the due diligence contractor, Williams Adley, via mail message. Please make sure you transmit the completed dBase file back to me electronically as soon as you are ready and scheduled to ship files.

When you are ready to ship files, call either Ron Hughes or Daryl Munson at Williams Adley (202) 496-1170 to make arrangements for pick-up of the boxes by a bonded courier.

Offices with fewer than 400 files to ship must ship the files no later than October 13, 1995. Offices with volume higher than 400 files must ship them no later than October 20, 1995. Upon consultation with Mr. Hughes or Mr. Munson, high volume offices may arrange partial shipments before October 20th. ALL FILES MUST BE SHIPPED BY October 20, 1995.

You will not receive copies of the files sent. However, if you later need copies of file documents for Bankruptcy filings or you approve a deed-in lieu [where the title report is free of other liens], or you receive a payoff (with or without a debt compromise for Asset Sale #2 cases) you must request the file by cc mail message to Mary Lou Hinchey at FHCPOST6 so that messages can be electronically forwarded to the due diligence contractor and MIAS.