Subservicing Invoice Update

We are pleased to let you know about a new, streamlined subservicing invoice that will be available beginning with your October invoice which will be sent during the first week of November. This subservicing invoice has been greatly enhanced in response to feedback from our Clients.

Not only are we introducing a new invoice format, and a Comprehensive Loan Level Detail Report, we will also be providing you with an additional new feature, the Transaction Level Report. Features of these two reports include:

Loan Level Detail Report

  • This report will provide the loans serviced during the month and the corresponding charges per loan, all within one tab.
  • Each column in the report will represent a line item on the invoice. The columns will be in the same order as listed on the invoice so that you can easily reconcile the invoice charges to loan level.
  • If there is inactivity for a particular line item, this column will not show up in the report to help manage the size of the file.

Transaction Level Report

  • Provides the Servicing Advances transaction activity for loans serviced during the month.
  • Five tabs represent each type of Servicing Advance activity and will include the relevant information for each type of advance.
  • Total activity in each of the tabs will reconcile to the face of the invoice.

Click the links to see example reports: Sample LLDR, Sample Invoice Reference Guide, Sample Transaction File. These reports are general samples. If you would like a sample Loan Level Detail Report that includes your active billing items or would like a file that can be used for system upload, please contact your Client Relationship Manager.

We are confident that this enhanced subservicing invoice will be valuable to you. This enhancement is just another example of how we are continuously working to improve the products and services that we deliver to you. If you would like to know more about these enhancements, or have any other questions or concerns, please don’t hesitate to contact your Client Relationship Manager or me.