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CCMA_ACCLM_2018

CCMA

CCMA Definitions Pre-Arrears Case - ARA When a borrower contacts the lender to inform it that he/she is in danger of going into financial difficulties and is concerned about going into mortgage arrears or The lender establishes that the borrower is in danger of going into financial difficulties which may impact on the borrowers ability to meet his/her mortgage repayments Arrears Where a borrower has not made a full mortgage payment or Where the borrower makes partial mortgage repayment in accordance with the original mortgage contract, by the scheduled due date.

Pre-Arrears & Arrears Pre-Arrears Arrears Contact Pre- Arrears SFS Entry to MARP Arrears Process Contact MARP SFS Arrears Process MARP MARP is the cornerstone of the Arrears Process: Communication, Financial Information, Assessment, Resolution MARP must applied in the following cases: - where arrears have arisen and remain outstanding 31 calendars days from the date the arrears arose - Pre-arrears case - Where an ARA put in place is broken - Where the term of an ARA expires