Bulletin ID
DLB - 00 - 14
| PublicationDate: 3/1/2000 BulletinID: DLB - 00 - 14 March 2000 DLB 00-14 Subject: Change in Procedures for Processing Promissory Notes at the LOC Dear Partner: This bulletin advises you of a change in procedures for processing promissory notes at the Loan Origination Center (LOC). The intent is to keep the paper manifest until after the entire imaging process is complete and reduce the chance of error. The change went into effect on Monday, March 27, 2000. The LOC will image first, then run reports that show the Master Promissory Note IDÂ’s in the database. The paper manifests will then be checked off based on the notes in the database. While this procedure will reduce the incidence of miskeyed notes, it will require a minimum of three days before the LOC mails the manifest back to a school. To expedite the process, we will continue to use overnight mail. The change in procedure is part of our effort to tighten control over the notes we receive. It continues the improvements we have made that allow us to link promissory notes to overnight delivery tracking numbers. Thank you for your ongoing partnership in the Direct Loan Program. Sincerely, Margaret E. White Acting Lead, Title IV Delivery Schools Channel |