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MORTGAGE PARTNERSHIP FINANCE PROGRAM Concurrent Servicing Sale Manual for Colonial Savings Revised March 2017 2012 Federal Home Loan Bank of Chicago “Mortgage Partnership Finance “, “MPH “,
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Who needs concurrent servicing sale manual?

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Real estate agents involved in concurrent servicing sales.
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Property developers or investors dealing with multiple properties.
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Banks and financial institutions offering concurrent servicing options.
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Concurrent servicing sale manual is a document outlining the procedures and guidelines for selling or transferring the servicing rights of mortgage loans to another entity while continuing to service the loans in the interim.
Any entity involved in the sale or transfer of servicing rights of mortgage loans is required to file a concurrent servicing sale manual.
Concurrent servicing sale manual should be filled out with detailed information about the sale or transfer of servicing rights, including procedures, deadlines, and compliance requirements.
The purpose of concurrent servicing sale manual is to ensure that the sale or transfer of servicing rights is done in compliance with regulations and that the servicing of mortgage loans is not disrupted.
Information such as the parties involved in the sale, the terms of the sale, the timeline for completion, and any regulatory requirements must be reported on concurrent servicing sale manual.
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