AGENCY: Utah Housing Corporation

SERIES: 6243
TITLE: Monthly reconciliation consolidation reports
DATES: 1985-2002.
ARRANGEMENT: Chronological, thereunder alphabetical by loan service name.

DESCRIPTION: These reports document each lender's monthly accounting of mortgage payments made to the Utah Housing Finance Agency (UHFA). The reports are compared against agency receipt records to identify discrepancies. UHFA compares the data on this report with actual monies received (series 84417), filed by each servicer (e.g. bank) showing servicers' accounts. UHFA is able to identify errors and negotiate remittance problems with the servicers, holding them accountable to their repayment contracts. The reports also serve as evidence for agency recourse in legal disputes.

RETENTION

DISPOSITION

RETENTION AND DISPOSITION AUTHORIZATION

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

APPROVED: 06/1991

FORMAT MANAGEMENT

Paper: Retain in Office for 3 years or until purchasing is completed for bond issue and then transfer to State Records Center. Retain in State Records Center for 30 years and then destroy.

APPRAISAL

Legal

This disposition is based on the possibility of a legal dispute arising between the Utah Housing Finance Agency and a lender during the course of a thirty-year mortgage period. A dispute may require research back to the beginning of the bond issue date. A typical bond issue period is two to three years.

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