Fannie Mae: Servicer Expense Reimbursement Job Aid Updated
Investor Update
November 12, 2015
The Servicer Expense Reimbursement Job Aid has been updated and posted to FannieMae.com. This Job Aid provides some operational instructions based on servicing policies. Specific updates to the Job Aid include:
- Where to Submit an Expense Reimbursement Claim: This section has been updated to provide references to Appendix A – Most Frequently Used Line Items in BKFS LoanSphere™ Invoicing and Appendix B – Available Line Item Subcategories in BKFS LoanSphere Invoicing.
- What to Submit for an Expense Reimbursement Claim: This section has been updated with clarification on acceptable supporting documentation for Hazard and Flood Insurance, and Taxes, Tax Penalties and Interest.
- Q&As: HomeTracker® and LoanSphere Invoicing questions have been added and updated.
- Appendices: This section has been added to include Appendix A – Most Frequently Used Line Items in BKFS LoanSphere Invoicing and Appendix B – Available Line Item Subcategories in BKFS LoanSphere Invoicing.
Servicer Expense Reimbursement Notification of Updates to LoanSphere Invoicing
Fannie Mae Expense Reimbursement will be consolidating the available expense reimbursement claim line item categories and subcategories in the Black Knight Financial Services LoanSphere Invoicing Application in Q1 2016. This update will streamline the claim line item choices in the application for improved consistency in submitting and processing expense reimbursement requests.
A full listing of the claim line items that will be impacted is included in the Servicer Expense Reimbursement Job Aid. Additionally, a list of the most common Servicer expenses is available in the Job Aid. To ensure readiness, servicers must take necessary action to prepare their systems and processes for the line item updates.
Reference the new documents for all expense subcategories available in BKFS LoanSphere Invoicing.
- Appendix A – Most Frequently Used Line Items in BKFS LoanSphere Invoicing
- Appendix B – Available Line Item Subcategoies in BKFS LoanSphere Invoicing
All new line items are currently available for use. Line item consolidation is targeted for implementation in February 2016. If you have any questions or concerns related to the LoanSphere Invoicing Line Item Consolidation project, please submit your inquiry to expensereimbursement_lineitemconsolidationproject@fanniemae.com.
Source: Fannie Mae
