What is a QWR? What is the Purpose for a QWR?
A qualified written request (QWR) is a a request that seeks general information about the life of an account or loan. Federal Law defines "Qualified written request" as:
a qualified written request shall be a written correspondence, other than notice on a payment coupon or other payment medium supplied by the servicer, that—
(i) includes, or otherwise enables the servicer to identify, the name and account of the borrower; and
(ii) includes a statement of the reasons for the belief of the borrower, to the extent applicable, that the account is in error or provides sufficient detail to the servicer regarding other information sought by the borrower.
The lender must respond to the QWR request within a certain period of time or else it could be held liable for failing to respond.
Many times, lenders send QWR responses back that differ from the documents that are actually filed in foreclosure cases.
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