VOL. 23, NO. 9L
March 2006
Welcome to the March 2006 ISAC Update for Lenders and Servicers, which is a compilation of e-Messages sent through College Zone’s e-Messaging service throughout March. This
e-Messaging service has replaced ISAC's use of printed newsletters and special e-mail lists as our primary means of communicating information to you.
The articles in this Update have been organized according to the Lender Zone subscription groups to which the messages were distributed via College Zone’s e-Messaging service.
Questions?
Questions regarding information in this ISAC Update can be directed to Lender Services by sending an e-mail message to lenderservices@isac.org or calling 800.899.ISAC (4722) and speaking with one of the following staff members:
- Sharon Bankston, extension 2826
- David Barinholtz, extension 2822
- Sondra Gardner, extension 2827
- Julie Henschel, extension 2823
On occasion, you may be directed to a specific contact person or area; when this occurs, we will provide the appropriate information in the individual article or message.
Multiple Subscription Groups
Change in Requirements for Claim Requests Submitted to ISAC - Effective April 3, 2006
Sent to Marketing News, Announcements and Operational Updates, Announcements on March 27, 2006
ISAC is pleased to announce an upcoming change regarding claim request requirements, which we believe will streamline the claims process by further incorporating components of the Common Claim Initiative (CCI).
Effective for claim requests initially submitted to ISAC on or after April 3, 2006, requests for claim reimbursements will no longer need to include select detailed documentation (payment and collection history).
Documentation requirements are dependent upon the type of claims being submitted, as outlined below.
- A completed (preferably typed) Claim Form document, as well as corresponding collateral information (e.g., an original promissory note, a copy of the same, or an indemnification agreement), is required for claim requests initially received by ISAC on or after April 3rd.
- For specialty claims, the documentation requirements (as outlined in the Common Manual, 13.1.D) must also be included with the claim request.
- For bankruptcy related claims, ISAC continues to require the supporting payment and collection history at the time of claim filing.
As a reminder, the Common Manual can be accessed via the Manuals & Handbooks page of the e-Library at collegezone.com.
Thank you for your cooperation as ISAC continues to incorporate elements of the CCI into the claims process.
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ISAC Update
Electronic ISAC Update for February 2006 Available at College Zone
Sent on March 1, 2006 The February 2006 edition of the ISAC Update is now available for your review within the ISAC Publications section of College Zone's e-Library. This version of the monthly electronic ISAC Update is a compilation of e-Messages sent to lenders and servicers in February via College Zone's e-Messaging service.
Topics covered in the February 2006 ISAC Update include:
- Portfolio Management, Presidents' Day Holiday and Mapping Your Future Chat Event
(sent February 16, 2006)
- FY2007 Governor's Budget Proposal
(sent February 15, 2006)
- Electronic ISAC Update for January 2006 Available at College Zone
(sent February 1, 2006)
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