VALERI Servicer Newsflash - January 25, 2021

Veterans Benefits Administration sent this bulletin at 01/25/2021 09:11 AM EST

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U.S. Department of Veterans Affairs
VA Home Loans

VALERI Servicer Newsflash

VALERI Downtime – The application will be unavailable on Thursday, January 28, 2021, from 9:00 to 11:59 p.m. EST for a system deployment. Users must log out of the system by 8:45 p.m. EST.  The deployment will include the following items:

  • LM-18701 – The Servicer Loan Listing report has been amended to only display the most recent loan modification, if a loan has two or more loan modifications.
  • LM-22739 and LM-21969 – The WebLGY and Servicer Non-Matching report “Reported Date” filter will be corrected and the “Owning” and “Reporting” Servicer ID number columns will be removed.
  • LM-19068 – The Events with Fatal Rules report will capture all events with fatal and non-fatal rules.
  • LM-3725 – The Adequacy of Servicing Action Required report will have a new column to capture the reason for default from the Electronic Default Notice primary default reason.
  • LM-23060 and 19055 – The report tabs on the Post Audit Claim Details report will be corrected to show “Review Post Audit” as the first tab and “Post Audit Claim Details” as the second tab. The sections within the report will be updated to mirror the sections in the Claim Detail Results report.
  • LM-3761 – VALERI administrators will be able to view user license counts while navigating in the User Administration screen.

Circular 26-20-39 – Transition to ServiceNow as Loan Guaranty Service’s Unified Helpdesk tool, was issued on November 17, 2020, and is located at https://www.benefits.va.gov/HOMELOANS/resources_circulars_valeri.asp. Servicers should submit tickets in ServiceNow, per the circular.

Circular 26-20-40 – Extended Foreclosure and Eviction Relief, was issued on December 28, 2020, and is located at https://www.benefits.va.gov/HOMELOANS/resources_circulars_valeri.asp.

Inactive User Deactivation – ALL VALERI users should log into the application at least once every 30 days to avoid deactivation. Users who have not logged into VALERI in the past 90 days will be automatically deactivated.  The application automatically deactivates inactive users every two weeks, and the next deactivation is scheduled for January 26, 2021. Reactivation requires the user to complete the registration and approval process again through AccessVA and then open a ticket in ServiceNow. Servicers should generate the "Servicer User Audit" report regularly to monitor users’ log in activity and ensure at least two active administrators are always in an active status.     

Loan Modification Trial Payment Plan – Individually, a trial payment plan does not reinstate the loan, and therefore, it is not considered a repayment plan as described in Chapter 5 of VA Servicer Handbook M26- 4. The Department of Veterans Affairs (VA) does not require servicers to report the approval or completion date of a trial payment plan as there are no events in VALERI related to a trial payment plan. Servicers that report through a nightly file should verify that when their servicing systems are providing the “Date repayment plan approved” data field, the date is for a repayment plan and not for a trial payment plan.

 

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