I-124 Posting Expectations and Guide
Good Morning,
The FTV stickers for Wells Fargo still remains an issue for all clients. The same day I sent out my memo last week concerning the addition of Corelogic and Spectrum, MCS sent out this one.
Please review the email below outlining the use of Wells Fargo (brown bar) FTV posting for the account of MCS. These postings are client specific to the National Vendor, and color coded. We must use the correct sticker for the inspection being completed at the time. If a sticker is posted that is the correct color, then you do not need to post a new one unless it is damaged.
We do not receive MCS inspections in all areas, so just use the stickers that apply in your area. Call me if any questions.
Thanks
Dwain
To: Vendor Network
From: Vendor Management
Date: August 1, 2014
Memo #1234: I-124 Posting Expectations and Guide
Clients 106, 472, 591, 685, 708, and 936 have created and provided new FTV (I-124) stickers which are color coded for MCS. Quality audits indicate that compliance to this new procedure requires improvement. The root causes of audit failures relate to using the wrong color sticker, not filling in the sticker information, leaving the old client posting, and failure to remove the old postings with incorrect phone numbers.
Please reiterate the following guidelines to your network.
**Failure to utilize the FTV posting during each property visit may result in a fine of $500.00**
1.Use the correct MCS posting (I-124), the correct adhesive sticker has a burnt orange color.
2. Write all required information on the sticker:
a. Inspection IN number
b. Inspector’s name
c. The inspector’s Aspen ABC #
d. Date
Remove all old postings that contain phone numbers. The only listed phone number at the property should be the client’s call center line which is provided in the MCS sticker. Properties fail quality control inspections if the old stickers remain present.
4. If completing Bankruptcy/No Contact inspections, do not go onto the property. FTV stickers will not be necessary as these inspections should be completed from the curb/street.
Where to Place the FTV Sticker?
Ø Place the First Time Vacant Sticker on the main entry door directly above the door knob
Ø If the main entry door is not visible from the street, the FTV Sticker must also be posted in a location that is visible from the street
Ø Provide photos documenting the location and posting of the FTV sticker, utilize both a close-up and a wide angle photo providing reference to the details and location of the posting, to demonstrate compliance with the posting expectation.
Please reference attached Sticker Posting Guide I-124 for additional details.
Should you have any questions or concerns, please contact your RVM.
Sincerely,
Vendor Management
Mortgage Contracting Services
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