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BOARD OF ECONOMIC DEVELOPMENT GOOD CONFERENCE ROOM, 711 E WELLS AVE, PIERRE, SD TUESDAY, AUGUST 14, 2018, 9:30 A.M. CT TABLE OF CONTENTS A. Regular Session Agenda B. Minutes C. Bank West, Inc. Servicing

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Read through the servicing contract thoroughly to understand the terms and conditions.

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Fill out the contract with accurate and complete information, including your personal details such as name, address, and contact information.

03

Specify the type and extent of services required in the contract, ensuring all necessary details are included.

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Who needs servicing contract?

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Servicing contracts are beneficial for individuals or businesses that require regular maintenance or repair services.

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Homeowners who need servicing for their appliances, HVAC systems, or other home equipment can benefit from a servicing contract.

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What is servicing contract?

A servicing contract is a legal agreement between a borrower and a loan servicer that outlines the terms under which the servicer manages the administration of a loan, including processes like billing, payment collection, and customer service.

Who is required to file servicing contract?

Typically, mortgage lenders or servicers are required to file servicing contracts to comply with regulatory requirements and to ensure proper management of loans.

How to fill out servicing contract?

To fill out a servicing contract, provide relevant information such as the names of the parties involved, loan details, compensation structure, servicing responsibilities, and compliance obligations. Ensure all terms are clearly defined and agreed upon.

What is the purpose of servicing contract?

The purpose of a servicing contract is to establish the rights and responsibilities of the loan servicer in managing the loan, providing a structured framework for communication and operations between the servicer and borrower.

What information must be reported on servicing contract?

Information typically reported on a servicing contract includes the names of the parties, loan types, payment terms, servicing fees, reporting requirements, and compliance with applicable laws and regulations.

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