Bulletin ID
DLB - 96 - 6
| PublicationDate: 4/1/96 BulletinID: DLB - 96 - 6 April 1996 DLB-96-6 Summary: Promissory note review/acceptance guidelines Dear Colleague: Enclosed are 1996-97 promissory note review/acceptance guidelines. These guidelines will assist you in reviewing the critical fields of borrower promissory notes before you forward them to the Direct Loan Origination Center (LOC) for acceptance. If a promissory note(s) is "rejected," the promissory note information panel in the software is updated, and the note is returned to the school with a paper manifest. If the note is "incomplete" (missing information as outlined in the enclosed Acceptance Guidelines), the promissory note is unacknowledged and the software is not updated. The note is returned to the school with a cover letter explaining what needs to be done for the note to be accepted. As a reminder, all promissory notes should be sent to the Direct Loan Origination Center in Utica. Any notes inadvertently sent to Montgomery, Alabama, the address on current promissory notes, will be forwarded to Utica. The Utica address is: School Relations Direct Loan Origination Center P.O. Box 7201 Utica, NY 13504-7201 or, for non-U.S. Postal Service direct deliveries: School Relations Direct Loan Origination Center 501 Bleeker Street Utica, NY 13501-2401 DLB-96-6 - Page 2 If you have additional questions about promissory notes you are forwarding, please contact your School Relations representative at 1-800-848-0978. Sincerely, DianeVoigt,Chair Direct Loan Task Force Enclosure |