Posted By: HRH Okie Banker
Need E-Oscar Help Please - 07/09/15 06:59 PM
The transaction is not the norm for us so I'm rather in the dark about the proper way to report this loan. How do you report, via E-Oscar, a loan that was settled by a short sale of the collateral and the bank (crammed down to current collateral value) charged off $100k?
Special comment code of: Account paid in full for less than full balance
or
Account Status: Unpaid balance reported as a loss by credit grantor (charge off)
TIA
Special comment code of: Account paid in full for less than full balance
or
Account Status: Unpaid balance reported as a loss by credit grantor (charge off)
TIA