An official website of the Tennessee Secretary of State.
Core Data
RDA Number
11462
Effective Date
Record Series Abstract
The full mortgage payoff and foreclosure files shall be maintained for the duration of the retention period. Each file consists of the following documents at minimum: note, deed of trust, title policy, assignment of mortgage, borrower’s file from Originating Agent lender, mortgage file memos/notes, report of payments, THDA release forms, lien releases, and either the payoff or foreclosure documents.
Record Series Active
Yes
Cut Off at End of
Other
If Other, Explain
After the transfer or sale of the mortgage or termination of mortgage insurance, whichever is later.
Total Retention Years
7
Total Retention Months
0
Retention End Action
Destroy
Disposition Notes
Non-bond mortgage payoff and foreclosure files must be retained for seven (7) years after the transfer or sale of the mortgage or the termination of mortgage insurance, whichever is later.
Records may be maintained in either paper or electronic format, as authorized by applicable law, as long as the electronic content has been verified for completeness, accuracy, and usability. The Certificate of Records Disposal and Records Disposal Review Form (“RDRF”) shall be fully completed, as applicable, and all other procedures followed as detailed in THDA’s Records Management Policy in connection with the disposal of any records in this Record Series.
Records may be maintained in either paper or electronic format, as authorized by applicable law, as long as the electronic content has been verified for completeness, accuracy, and usability. The Certificate of Records Disposal and Records Disposal Review Form (“RDRF”) shall be fully completed, as applicable, and all other procedures followed as detailed in THDA’s Records Management Policy in connection with the disposal of any records in this Record Series.
Worksheet
Record Location
502 Deaderick St, 2nd floor, Nashville, TN 37243
Media Format Generated
Electronic
Paper
Media Format Generated Summary
Electronic: Text
Paper: Sheet
Media Format Stored
Electronic
Paper
Media Format Stored Summary
Electronic: Text
Paper: Sheet
Date Range
2020 to Current
Allotment Code
316.2
Annual Accumulation
1 GB / 4 cu ft
Current Volume
5 GB / 12 cu ft
Record Value
Administrative
Fiscal
Legal
Audit Requirements
Both
Information Shared Outside the State
Yes
Shared Agencies
Internal Revenue Service, Dept of Housing and Urban Development, Treasury, Freddie Mac, Ginnie Mae, US Dept of Agriculture, and/or Veterans Affairs
Essential Record
Yes - Original
Essential Record Stored
Original records in paper format shall be stored at THDA’s central office in designated storage areas. Records in electronic format shall be maintained in a THDA approved software and/or server environment.
Essential Record Media Type
Paper
Confidential
Yes
Confidential Legal Citation
15 U.S.C. §§ 6801-6809, §§ 6821-6827
Does this Record Series Contain Sensitive Information?
Yes
Agency Retention
Non-bond mortgage payoff and foreclosure files must be retained for seven (7) years after the transfer or sale of the mortgage or the termination of mortgage insurance, whichever is later.
Records Center Retention Period
N/A
Retention Legal Citation
Federal Housing Administration (FHA) Handbook 4000.1, Servicing and Loss Mitigation: Title II Insured Housing Programs Forward Mortgages. See Tenn. Comp. R. and Regs 0180-2-1.
Electronic Records Plan Inventory
System Name
THELMA, FICS
Hardware Description
THDA maintains its own separate LAN/WAN infrastructure onsite at our main office. A Storage Area Network supports all THDA's electronic data, which is then replicated real-time offsite.
Software Description
THELMA is an in-house built, proprietary system used to house all Loan Origination activity; FICS is our Servicing system of record and is a boxed/vendor application that is the permanent home for all mortgages after purchase.
System Location
THDA maintains its own separate LAN/WAN infrastructure onsite at our main office.
Backup Procedures
THDA's backup strategy utilizes enterprise-level software and high speed disk storage as well as data tapes which are used for offsite archival purposes. Most THDA production servers are backed up to an encrypted volume on weeknights using incremental/Full backup methods. Incremental jobs run Monday - Thursday and are rolled into a full backup on Friday night. The previous incremental backups become rollbacks. The rollbacks are retained on the volume for one year.
Disaster Recovery
THDA's Operations division employs a Certified Business Continuity Specialist who maintains and executes the agency's Business Continuity Plan, which has been established and in place since 2008.
Data Migration Description
Overseen and conducted by THDA according to the agency's Business Continuity Plan.
RDA Comments
Records Management Division (RMD)
08-15-2024
No recommended changes.
Tennessee State Library and Archives
08-16-2024
No recommended changes.
Comptroller Audit Review
08-16-2024
We have reviewed RDA 11462 from an audit standpoint. We concur with the recommended retention and disposition specifications.
Agency Records Officer
08-16-2024
Agency concurs. Thank you.
RMD Director
08-20-2024
RDA 11462 is a request to create an RDA. The retention period will be seven years and then destroy. The format will be paper/electronic. Recommend approval of the request to create RDA 11462.
Public Records Commission
09-23-2024
PRC approves RDA 11462.