AGENCY: Utah Housing Corporation

SERIES: 20008
TITLE: Daily activity reports
DATES: 1996-2002; 2021-
ARRANGEMENT: Chronological

DESCRIPTION: These records track and verify all daily activity of 30-year fixed rate mortgage loans with regard to any borrower's account, any banking transactions, and any other monetary transaction in which the mortgage loan servicing department was involved. Information includes copies of checks, payment coupon stubs, posting reports, disbursement reports, and banking reports.

RETENTION

DISPOSITION

RETENTION AND DISPOSITION AUTHORIZATION

Retention and disposition for this series were specifically approved by the State Records Committee.

APPROVED: 03/1999

FORMAT MANAGEMENT

Paper: Retain in Office for 6 months and then transfer to State Records Center. Retain in State Records Center for 34 years and then destroy.

Computer data files: Retain in Office for 34 years and then delete.

APPRAISAL

Fiscal Legal

This retention is based on the fiscal and legal values the records hold during the 30-year mortgage, plus the recommendations of the Fannie Mae Servicing Guide (I, 404: Record Retention (09/30/96)), which says "After a mortgage is liquidated, the servicer must keep the individual mortgage records for at least four years."

PRIMARY DESIGNATION

Private

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