STATE OF WISCONSIN, DEPARTMENT OF VETERANS AFFAIRS

201 West Washington Avenue, P.O. Box 7843, Madison, WI 53707-7843

(608) 266-1311 1-800-WIS-VETS (947-8387)

LOAN PAYOFF & REMOVAL REPORT
Personal information you provide may be used for secondary purposes [Privacy Law, s.15.04(1)(m)].
(Please Print Legibly)

Servicer Name & Address
Loan Pool	___ ___
Servicer Number	___ ___ ___
Name of Borrower
WDVA Loan #
Property Address
Servicer Loan #
REMARKS:
Payoff Date	___ ___ / ___ ___ / ___ ___
M M D D Y Y
Due date of last paid whole
P & I Installment	___ ___ / ___ ___ / ___ ___
M M D D Y Y
INSTRUCTIONS TO SERVICER

A legible copy of the recorded mortgage (including all recording information) and a legal description MUST BE attached to insure prompt handling.
Fixed Installment $
TYPE OF REMOVAL:
Paid off in full
Paid off at maturity
Foreclosure – acquired by WDVA
Other
REMITTANCE SUMMARY:
Principal Balance
$
Add interest collected	to
$
or (deduct refunded interest)
Deduct service fees on interest collected or
$
(add service fees on refunded interest)
Net Remitted
$
ACTION TAKEN ON INSTALLMENTS DUE:
Loan status at last cutoff:
Funds Collected Since Last Cutoff and Remitted
Current
Remitted	Interest	$
Delinquent
Principal	$
Prepaid
Principal Curtailment	$
Prepared By (Name & Title):
Phone Number:	Date:

WDVA 1412

LOAN PAYOFF & REMOVAL REPORT

Purpose:	To describe remittances for payments in full, to request a Satisfaction of Mortgage, and to advise WDVA of unfunded removals.

Prepared By:	Servicer

Distribution:	Original within one business day of payoff, with a copy of recorded Mortgage (including legal description), to:	Wisconsin Department of Veterans Affairs

ATTN: Loan Accounting

P.O. Box 7843

Madison, WI 53707-7843

Copy to WDVA with SERVICER REMITTANCE RECORDS, WDVA 1701, at end of month.

Instructions

Each payment in full must be reported on a separate WDVA 1412. Total remittances reported on WDVA 1701 as “Payoff Funds” must equal total net amount of remittances reported for all accompanying WDVA 1412s.

Amount reported for a loan payoff should be computed according to Chapter 11,D,3.

Servicer Name & Address:	Corporate name and address.

Name of Borrower and Property Address

Loan Pool:	One or two alpha characters assigned by WDVA to identify funding source of loan
(C-ZZ, RA, RB).

Servicer Number:	Three-digit number assigned by WDVA.

WDVA Loan Number:	Loan number assigned by WDVA.

Servicer Loan Number:	Optional.

Remarks:	Pertinent information related to release, cancellation, satisfaction, etc.
(See Chapter V,A,3).

Payoff Date:	Date funds were received by Servicer (i.e., effective date of payoff). This date must be coded correctly so that WDVA can verify payoff interest calculation made by Servicer. This date should coincide with the “To” date entered at the 2nd item of the Remittance Summary section of this form.

Due date of last paid whole	Enter LPI date (month and year) of loan as reflected in the most recent

P & I Installment:	LAS report.

Fixed Installment:	Fixed monthly installment of Principal and Interest only.

Type of Removal:	Check box indicating appropriate type of removal.

REMITTANCE SUMMARY

Principal Balance:	Unpaid principal balance at the time of payoff.

Add interest collected:	Indicate the inclusive dates for which interest is calculated and amount of interest remitted (or deducted).

Deduct servicing fees on	Servicing fee adjustment base on interest remitted or deducted.

interest collected:

Net Remitted:	Amount remitted for loan payoff.

Loan status at last cutoff:	Check the item which describes the status of the loan at the most recent cutoff date (last month-end).

ACTION TAKEN ON INSTALLMENTS DUE

Funds Collected Since Last	Interest, Principal, and Principal Curtailments remitted to WDVA since last

Cutoff and Remitted:	cutoff (month-end). These figures are used by WDVA to reconcile the principal balance on its books to the principal balance being paid off and the interest remitted at payoff to the interest due.

Name, Title, and Phone Number of person completing form.

Date form was prepared.

WDVA 1412 (04/07) Page 3 of 3	You can print the most recent version of this form

W:\Templates\WDVA_1412_Loan_Payoff_Removal_Report.dot	from the WDVA website at www.WisVets.com/Forms.

WDVA 1412 (04/07) Page 1 of 3	You can print the most recent version of this form

Wis. Stats. Chapter 45

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WDVA 1412 - LOAN PAYOFF & REMOVAL REPORT

memerka

2012-01-23

Karen Emery

Dept of Veterans Affairs