VA: VALERI Servicer Newsflash
Investor Update
March, 12 2020
Source: VA
Additional Resource:
Important Information
Circular 26-20-5 – Special Relief Following Tennessee Severe Storms, Tornadoes, Straight-line Winds, and Flooding, was issued on March 10, 2020. The Federal Emergency Management Agency’s declared disaster counties in Tennessee are Davidson, Putnam, and Wilson. The circular is located at https://www.benefits.va.gov/homeloans/servicers_valeri.asp.
Non-Matching Criteria – If loan origination data on the bulk upload spreadsheet does not match the loan origination data in VALERI, the event will not generate, and the user will receive an error. Effective March 12, 2020, the non-matching criteria logic is updated from requiring four matching data elements to three matching
data elements:
• VA Loan Number and
• Property State and
• Loan Origination Amount (+/– $5,000 variance threshold) or Loan Origination Date (+/– 14-day variance
threshold)
To determine and correct the non-matching data for a successful upload, users must compare the data under the “Baseline” tab to the data entered on the spreadsheet. The WebLGY and Servicer Non-Matching report is available in Analytics to review historical non-matching data.
Claim Detail Results Report – Some users are encountering “Application Error” and/or “Sorry to interrupt” error messages. Until further notice, the temporary workaround to avoid receiving the error message is to select “ALL” in the date filter.
Notice of Value (NOV) Adjustments – If the NOV data is manually adjusted in VALERI, the Transfer of Custody event business rules may not recognize the updated data and cause the event to reject. This issue is scheduled to be corrected as a part of the system release on March 26, 2020.
Cancelled Payments – Cancelled payments cannot be re-issued at this time. This issue is scheduled to be corrected as a part of the system release on April 30, 2020.
Servicer Department Contacts – Servicer administrators are urged to create and maintain accurate points of contact (POC) for each business area by selecting the “MORE” tab and selecting “Servicer Departments.” VA loan technicians rely on this information to complete their tasks timely. Missing or inaccurate POC information may cause delays for both the technician and servicer.
ID.me – Phone number extensions are now accepted in the identity authentication process. Questions related to ID.me must be directed to https://help.id.me/hc/en-us#.
REMINDERS
Accessing VALERI – The new VALERI application must be accessed with the Google Chrome browser.
Contacting VA – Only VALERI system related inquiries should be directed to the VALERI Technical team at valeri.vbaco@va.gov. Loan specific inquiries should be directed to the assigned VA Loan Technician. Policy inquiries should still be directed to the VALERI Helpdesk at valerihelpdesk.vbaco@va.gov. Inquiries related to bulk upload issues should be directed to the VALERI Data Quality team at valeridatqauality.vbaspl@va.gov, and should include the uploaded spreadsheet and the auto-generated error message that was received.
