We’re Simplifying Servicing™ with a ‘One and Done’ approach. A single submission process for expense reimbursements with straight through processing and no documentation and consolidated portfolio and loan level invoicing.
The Expense Line Item Submission Guide
Provides in depth detail on what line item to submit expenses, including examples.
- Phase I Coming November 2017
Streamlined claim submission process with roll-out of Document Elimination.
- Elimination of documentation at initial claim submission for five line items
- Elimination of itemization of Property Inspections
- Q2 2017 will reduce an additional four document requirements
- Updated policy guidelines related to expense submission timing servicer reimbursements pilot.
- Pilot to evaluate existing business rules and edits to reduce number of servicer reimbursement claims that require manual review.
- Will incorporate a pre- and post-payment QC
- Additional BKFS system enhancements/edit configurations required to expand
- Currently being piloted with one servicer
A new web-based application is coming mid-year to provide servicers access to consolidated portfolio and loan level invoices. This new system provides: