Cyberlink Software Solutions

207 TOBS Imports as a 206 TOS

Problem: When importing loans into 207 Transfer of Beneficial and Servicing Rights loan sold to an investor that requires a 207 TOBS are importing as a 206 TOS. We checked the investor setup and the 207 Transfer of Beneficial Rights option has been selected.

Cause: The issue is usually related to a setup error. On the Investor Settings screen you probably have the 207 TOBS option selected. That is correct for the first step. Because a 207 TOBS transfers both beneficial rights and serving rights the investor has to be setup as both an Investor and a Servicer. Below the Document Custodian field there is a Type drop down list. Click to open the list to confirm the investor was setup as both an investor and servicer. If you do not see Servicer listed click the Copy button and select Servicer from the list. Once your investor is setup as both an investor and servicer the issue should be resolved.

Investor Settings Screen
Resolution: On the Investor Settings screen you probably have the 207 TOBS option selected. That is correct for the first step. Because a 207 TOBS transfers both beneficial rights and serving rights the investor has to be setup as both an Investor and a Servicer. Below the Document Custodian field there is a Type drop down list. Click to open the list to confirm the investor was setup as both an investor and servicer. If you do not see Servicer listed click the Copy button and select Servicer from the list. Once your investor is setup as both an investor and servicer the issue should be resolved.


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