VALERI Servicer Newsflash - July 17, 2020

Veterans Benefits Administration sent this bulletin at 07/17/2020 03:35 PM EDT

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VA Home Loans

VALERI Servicer Newsflash

Adequacy of Servicing (AOS) – Effective July 1, 2020, AOS cases generate daily until the monthly pool is depleted. Therefore, servicers should generate the “AOS Action Required” report daily to ensure responses/documents are provided timely on all cases.

Electronic Default Notice (EDN) Event – On the Events Upload Template, the “Primary Reason For Default” field is a required field, which means a selection from the dropdown is required. In the electronic files sent to VA, there must be a selection present in the “Primary Reason for Default” data field in the EDN event prior to the 61st day of delinquency. If the EDN event generates with this data field blank, it will default to “Other” in VALERI. Servicers should review their defaulted loans to confirm that they reflect the correct default reason. Servicers may contact the assigned loan technician to request a manual default reason change from “Other” to the correct default reason or include the new default reason in the AOS response.  

Foreclosure Sale Scheduled Event – Servicers must select the foreclosure type as either Judicial or Non-Judicial. If no selection is made, the system will not recognize the subsequent Basic Claim event, and therefore, a review claim process will not open for the technician.

E-Filing/Recording Fees – Servicers should include the e-filing or e-recording fee along with the related item that was filed or recorded. If it is reported as a separate fee on the Basic Claim, it will be denied.  

VALERI Announcements – An announcement message board is available in VALERI and is accessible by selecting the Home icon located next to “VALERI” at the top left corner. Users are encouraged to view the announcements regularly for informational awareness.

Contacting VA – Servicers should adhere to the following protocol:

    • Loan specific inquiries and escalations – Assigned VA Loan Technician/Regional Loan Center (contact list located in Knowledge in VALERI)
    • VALERI technical inquiries – VALERI Technical team at valeri.vbaco@va.gov
    • Unassigned loans, VALERI Reports, and general policy inquiries – VA Central Office VALERI Helpdesk at valerihelpdesk.vbaco@va.gov  
    • Bulk upload error inquiries (with uploaded spreadsheet and the auto-generated error message) – VALERI Data Quality team at valeridataquality.vbaspl@va.gov
    • Post conveyance inquiries – Vendor Resource Management at title-va@vrmco.com
    • Post Conveyance Escalations – VA Central Office Property Management at pm.vbaco@va.gov

 

This newsflash is intended for mortgage servicers participating in the VA Loan Guaranty Program only. If you have received this newsflash in error through govDelivery, please visit https://subscriberhelp.granicus.com/s/article/How-do-I-unsubscribe-from-email-updates to unsubscribe. Veterans looking for information on VA benefits should visit https://www.va.gov/.

 

VALERI Helpdesk

VA Central Office Loan Management