VALERI Servicer Newsflash
Investor Update
June 15, 2018
Source: VA
New VALERI Environment –Black Knight Financial Services (BKFS) currently collects all servicing data for VA. After March 2019, when VA transitions to a new VALERI environment, BKFS will no longer collect this data on behalf of VA. As part of that transition, VA needs to ensure that all servicers can continue to meet our reporting requirements by establishing the necessary connections to the new VALERI environment. VA’s transition plan encompasses all of the various ways that servicers report information to VALERI, including the following categories;
1. Servicers that use a licensed servicing system, such as MSP or FiServe that automatically reports data to VALERI;
2. Servicers that use a proprietary, or home grown, servicing system that automatically reports data to VALERI;
3. Servicers that log into the VALERI Servicer Web Portal (SWP) to manually upload data to VALERI;
4. Servicers that log into the VALERI SWP to manually enter data into VALERI.
Only servicers in category #2 need to contact VA at this time. Please provide us with the name of your organization and a point of contact with which we can discuss a transition plan. This information must be sent no later than June 21, 2018 to guarantee your ability to report data to VALERI is uninterrupted during the transition. You may direct any questions or concerns regarding the changes to Terry Cere (Therese.Cere@va.gov) or Colin Deaso (Colin.Deaso@va.gov). If you have technical questions regarding testing, please contact: John Elliott (John.Elliott@va.gov), VA Office of Information & Technology.
Redemption Quotes and Inquiries – All questions and inquiries related to redemption procedures are to be directed to vrm-redemption@vrmco.com. Redemption Instructions are located on the VALERI website at https://www.benefits.va.gov/HOMELOANS/servicers_valeri_guides.asp.
REMINDERS
Circular 26-15-9, Servicer Statutory Redemption Procedures, requires servicers to reach out to VA’s Property Management Contractor, Vendor Resource Management (VRM), to secure any amounts required for redemption funds if the property was conveyed to VA. If you have questions, please email VRM-redemption@vrmco.com.
Title Package Extensions and Escalations – Any title extension requests or title escalations must be submitted to VRM at vrm-title@vrmco.com. If you require VA’s assistance, please copy the Contract Assurance (Property Management Oversight) mailbox at nashpm.vbaco@va.gov.
DEVELOPMENT UPDATES
On Saturday, June 16, 2018, VALERI Manifest 18.2 will be released. The following enhancements will be included:
CQ 13380 – Updates the Claim Bulk Upload template to reflect the addition of “State Pre-Foreclosure Fee” line item. The new version of the template and the VALERI Fee Cost Schedule will both be available at https://www.benefits.va.gov/homeloans/servicers_valeri.asp on Monday, June 18, 2018.
CQ 12765 – Updates claims logic to disallow Title V Septic fee for Massachusetts properties if VA did not accept custody and pay acquisition for the property.
