VA: VALERI Servicer Newsflash
Investor Update
May 17, 2019
Source: VA
Important Information
Debris Removal Clarification – Servicers are required to remove exterior trash from properties, any other materials that violate applicable codes, or if a violation has been issued. For clarification, examples of health and safety hazards include, but are not limited to, highly flammable chemicals, decaying food or other organic matter, interior wet or moldy debris, dead animals, broken glass or other sharp objects, and large quantities of paint or paint products.
Adequacy of Servicing Process – In an effort to complete pending VALERI processes prior to the transition into the redesigned system, VA technicians may be reaching out during the initial 10-day timeframe, typically allowed to receive documents/responses to the AOS questions.
United States Foreclosure Network (USFN) – Rita Falcioni and Katie Graham will be attending the June USFN conference in Nashville, TN. They will be hosting a learning lounge on Wednesday, June 5, 2019, and will also be available to meet with industry partners upon request. To request a meeting time with VA outside of the learning lounge event, please contact the VALERI Helpdesk at valerihelpdesk.vbaco@va.gov.
VALERI Live Servicer Training – VA Central Office is hosting a VALERI live webinar training on May 17, 2019, from 11:00 AM EST to 2:00 PM EST. Training invites have been disseminated to servicer company administrators, and due to limited webinar space, servicers are strongly encouraged to coordinate viewing the training in groups. The training will also be recorded and available for viewing at a later date (details forthcoming). If you have not received a training invite, but would like to attend the training, please reach out to your company administrator. The following training topics will be covered during VALERI training:
• Servicer Web Portal Navigation
• Administrative functions
• Adding and editing Points of Contact
• Reporting of events/claims/appeals
• Uploading and submitting documents associated with a claim or appeal
•Accessing and filtering reports
VALERI Redesign Updates – The following information is provided to assist our program partners in anticipation of the transition into the redesigned VALERI system:
• Appeals – The ability to file appeals in the current VALERI system ended on April 27, 2019. For cases that would have been eligible for appeal, the 30-day appeal timeframe will reset on May 28, 2019. Servicers can also pull the Claim Details Report prior to May 23, 2019, and include that information in the appeal justification to aid in the review of transition cases.
• Transfer of Custody – From May 15, 2019, through May 28, 2019, servicers will not have the ability to convey properties to VA. As a result, servicers will need to confirm prior to May 28, 2019, that the property is in the same condition as the date they intended to convey the property to VA. While VA does not require repairs to a property prior to conveyance, if damage occurs after the sale and before May 28, 2019, the servicer must notify the assigned VA Loan Technician. Additionally, if an insurance claim can be filed, the servicer should pursue an insurance claim and subsequently forward funds to VA. Furthermore, VA will review for the reimbursement of an inspection during the blackout period, on a claim appeal or supplemental with supporting documentation.
• Pre-Approval Process – For loans that are less than 61 days delinquent or unassigned in VALERI and require VA pre-approval, servicers are encouraged to wait to submit pre-approval requests to VA until the VALERI go-live date of May 28, 2019, when feasible. For those requests that need to be expedited (before May 28, 2019), please reach out to the Loan Administration Officer (LAO) at the office of geographical jurisdiction. The Regional Loan Center Contact List is located on the VALERI internet at https://www.benefits.va.gov/homeloans/servicers_valeri.asp.
• VALERI Reports – Reports will be unavailable after 2:00 PM EST on May 23, 2019, therefore servicers should generate and save all reports prior to this cut off time.
• VALERI System – VALERI will be unavailable from May 24, 2019, through May 27, 2019. The redesigned VALERI application will go live on May 28, 2019.
• VALERI Assistance After Go-Live – Effective May 28, 2019, any VALERI system related inquiries should be directed to valeri.vbaco@va.gov. Loan Management policy inquiries should still be directed to the VALERI Helpdesk at valerihelpdesk.vbaco@va.gov.
VALERI HelpDesk
VA Central Office Loan Management
