Expenses & Invoicing

We’ve Simplified 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.

Learn more about how we’re Simplifying Servicing

Expense Reimbursements

Now available

The Expense Line Item Submission Guide
Provides in depth detail on what line item to submit expenses, including examples.

Future enhancements

  • 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

Consolidated Portfolio & Loan Level Reporting

A new web-based application is coming mid-year to provide servicers access to consolidated portfolio and loan level invoices. This new system provides:

  • A single point of contact and transparent documented communication channel
  • Consolidated loan level views with itemized detail as well as portfolio dashboard views and tracking
  • Easy access to performance metrics
  • Faster access to claims, reducing need for emails
  • Ability to track portfolio, as well as individual claim types, in order to support servicer operational processes