Back Office Process: Prepayment/Buyout & Payoff

Handled by: Currently handled by @Nehemiah @ EverBright

Background: There may be instances where EverBright needs to provide a prepayment/buyout (PPA) or buyout (RIC) amount.

This request could be received as follows:

Product	Pre-M3	Post-M3

Product	Pre-M3	Post-M3
RIC Buyout	Not allowed	Account Servicing Provides
Fixed PPA Prepayment	Not allowed	Account Servicing Provides
Flex PPA Prepayment	Not allowed	Email Internal Team (see below) (soon case assignment for revenue protection)
Flex PPA Buyout (Prior to Year 6)	Create a case Primary Reason System transfer/UCC terminations Secondary Reason PPA Buyout < year 6 Create a case assignment for Resolution team Referral Per SOP	Email Internal Team (see below)(soon case assignment for revenue protection)
Fixed PPA Buyout (Prior to Year 6)	Create a case Primary Reason System transfer/UCC terminations Secondary Reason PPA Buyout < year 6 Create a case assignment for Resolution team Referral Per SOP	Email Internal Team (see below)(soon case assignment for revenue protection)

This process is only to be handled by @Nehemiah @ EverBrightand @Brian Embry

STEP	ACTION

STEP	ACTION
1	EverBright Customer Support creates a case in Salesforce under the customer’s contract
2	Send an email to Ryan Cabral Soto <ryan.cabralsoto@goeverbright.com> and Brian Wang <brian.wang@goeverbright.com> with the following information: Borrower’s Name Contract ID Type of request Flex PPA: Prepayment Prior to Year 6 PPA Buyout (Flex or Fix): Prior to Year 6
3	Forward the above information once available to Account Servicing through the original form of communication
4	Close Salesforce case