Transaction Spotlight: Fees and Costs Request

Additional Events for a Variety of Servicers

Black Knight V3 – Updates

We have additional updates regarding the Black Knight Version 3 transition.

All transactions are available. Transactions include:

  • Invoice Management
  • Referrals (Open, On Hold, Off Hold, Closed)
  • Workload (get entire workload or create custom filters on desktop to reference)
  • Documents (upload/download)
    • Doc Request available December 2016
  • Events (complete, edit, reprojections, DDF, comments)
  • Vendor Reference Update
  • Other transactions (Launch Process, Add Hold, Fees & Costs)

There is a large backlog of firms who signed a statement of work prior to December 31, 2015. Black Knight is continually working to address this backlog and is assigning resources as they become available. Firms will be contacted as soon as resources become available.

If you have any questions, please contact your NetDirector Integration analyst, or email ndsupport@netdirector.biz.

New Transactions – Referral Request, Document Request, Reflag Referral Request

We’re excited to be offering three new transactions to our clients that will increase automation of your business processes.

The first is a referral request enhancement. The Referral Request is a request/response transaction for Black Knight only. This enhancement provides firms with the ability to get completed step/form information from a referral. This request can additionally be triggered based on the receipt of sub process referrals that are launched from the completion of a DDF or from a step present in the workload. (additional fee request process).

Benefits of the Referral Request include the retrieval of data filled in by servicers in DDF through an automated process, and getting completed step dates of old referrals and transfer files.

The second new transaction is the Document Request. This is available for Black Knight V2 currently, with Black Knight V3 available in December of 2016. The request contains the RID of the referral package your firm would want to receive.

This transaction alleviates the auto-completion of milestone events from downloading documents, and would still allow firms to select which document types they want to receive, and when they receive them. The cost for the Document Request is one base transaction, and returned documents are charged as normal documents.

The third transaction being added is a Reflag Referral Request. This transaction provides the ability to receive referrals through the existing referral intake process. This transaction is based on the RID for BKFS, or the loan number and case type for Vendorscape. The process consists of the request but also includes an asynchronous response to ensure your firm knows that the referral has been properly reflagged.

Benefits of the Reflag Referral Request include the ability for firms to import transfer files or referrals with changed information or additional information. The cost for Reflag Referrals is one base transaction.

We are currently seeking beta testers for the Doc Request and Reflag Referral transaction types – please contact your integration analyst if interested, or email ndsupport@netdirector.biz.

New Feature – Name Permutation

One of the most highly demanded search features for the NetDirector Military Search service is a Name Permutation Search, which will allow searches to include variations in the format of given name elements.

The name permutations will be driven by rules based on data that is passed during the request. For example: if a First/Middle/Last is provided, a specific set of permutations will also be searched with this feature. If First/Middle/Last-Last is provided, that will generate a different set of permutations, and so on.

Search options are based on the servicer requirements for which the search is being performed.

Benefits of the search include a more thorough and compliant way to identify individuals that qualify for the SCRA while performing foreclosure processes.

Interview: NetDirector CEO Harry Beisswenger on JobTalk.

Harry_03272015-1024x1024This is an excerpt from a recent interview of our CEO, Harry Beisswenger, on JobTalk with Dean Logan. This is the first part of a multi-part series about the history of NetDirector, our staff, our mission, and our future. Enjoy!

Dean: Before I introduce my guest I want you to visit his website while listening to the program. If you care to do that you can visit Netdirector.biz and you can also follow us live as we can be seen on periscope you can view the screen by going to twitter.com.

I’m very happy to welcome my guest today, Harry Beisswenger, the CEO of NetDirector, an award winning company located in Tampa Bay. Welcome to Job Talk, Harry.

Harry: Thanks, Dean. It’s great to be back with you.

Dean: Yeah, the second time you’ve been here. It’s been over a year; I’m really happy to have you back. Different office, it’s a great location, I’m awfully glad that you’re here. So, I’m very anxious, there’s been a lot that’s happened since we last spoke, and I’m very anxious to get to all of that. First, let’s give everyone a little history on yourself, up until the time you took over as CEO at NetDirector. Where are you from?

Harry: Well Dean, originally I’m from the Philadelphia area, so I grew up there and started migrating south in probably my late 20s. I moved to Atlanta and spent about 12 years there, I really love that town, and then had an opportunity to move to Tampa. I really like being by the water, and the city really appealed to me, so I moved to Tampa in 99. So I’ve been here about 16 years.

Dean: What kind of work did you do before you become the CEO of NetDirector?

Harry: Well Dean, I’ve always been in the software business; actually my father founded a company back in the 70s, in the early days of technology. It was a software program for law firms and I learned a lot from him from the entrepreneurial side and had an opportunity to move to Tampa and really wanted to get into technology as far as running a company and being part of a startup. But as far as my experience, it was really around working at various software companies and various industries. I was in legal, I was in financial, I was in commercial business software, and each one really gave me the experience in technology to start to develop a startup business and bring it to market.

Dean: That sounds great. And what kind of roles did you have in those other companies that prepared you for a CEO position?

Harry: Mainly, well, I started out in the trenches and really implementing as a project manager. Implementing software, customer service, working with clients to maximize or optimize the use of various software programs. Most of those were enterprise systems, for instance, one of the early companies I worked for sold core systems to credit unions so it was all about managing loans, savings accounts, all of those things that were tracked inside of those systems. Then I moved on to systems that managed professional service automation and sales force automation in the early days. You’ve heard the term CRM so I was involved in the early days of CRM software, customer relationship management. To manage customer information, sales, support, all those types of processes.

Dean: That’s great and so you came here about 16 years ago; did you come here for Netdirector?

Harry: No, at the time, I was with another company, it was a technology company called Power Serve and I was in sales for them and they wanted me to move into product management. It was the first time I really got into managing all different types of software products. They moved me down here and then I moved with a couple other companies, and then the opportunity with Netdirector came up about 10 years ago.

Dean:  How long has NetDirector been in business?

Harry: It was formed in 2003, actually started producing revenue in 2005, so we had our 10th year anniversary and we’ve become a very sustainable and profitable company.

Dean: Well that’s great. So let’s talk about Netdirector and what you do over there. It’s a leading provider of cloud-based data and document exchange solutions. Can you explain exactly what that means?

Harry: Yes, we are kind of behind the scenes; we’re up in the cloud so it’s very complex technology behind the scenes, but to break it down into simplistic terms, we’re moving various chunks of data and various documents through the cloud, between various companies, or trading partners. So what we’re reducing is full-time employees or extra staff that are keying in data manually or handling documents manually, and either importing those into their system or moving documents to some of their other clients or vendors. We automate that whole process, so it provides a significant return on investment for our investors.

Dean: That’s great. So the areas that you specialize in are mortgage banking, technology, and healthcare?

Harry: Yes, our initial industry or ecosystem was mortgage banking, default servicing sector, so when a loan goes into foreclosure or bankruptcy, those servicers then hire an attorney to manage that foreclosure through to a sale of property or closure of the file. That was our core business we were really helping out with, but the main beneficiary of the foreclosure was the attorney. Then we eventually brought on the mortgage servicer, because there’s a lot of data that goes back and forth in reporting and the servicer gets that data much more timely, and it’s much more accurate if it’s an automated process. The attorneys see major benefits because they are saving, again, resources and not having to double key information into their core systems, which are case management systems. So I’ll give you an example: a mortgage servicer assigns a foreclosure file to an attorney, normally the attorney would go to the servicer’s system, pull up that foreclosure information and then somebody would have to key it into their case management system. That is very error prone, and it takes somebody 15 to 20 minutes per file to key that data in. So you multiply that out by hundreds of files, and some firms do thousands of files, per month, and you see a significant return on investment.

Dean: Exactly.  So that’s good; do you do this across the country?

Harry: Yes, we are domestic, we are about in every state.

Dean: Really and only 10 years. That’s pretty good, Harry.

Harry: Yes, it’s been a quick ramp up.

Invoice Integration Spotlight

Black Knight™ and REALRemit® Invoice Integration

By integrating invoices and the corresponding tasks with NetDirector and your current service like Black Knight™ or RealRemit®, you can submit invoices in real-time alongside supporting documents using our Invoice Import Request.

Let’s take a look at the process with Black Knight™.

Invoice Import Requests function as a single transaction and contain both line items and supporting documents. Documents are uploaded and populate the invoice with the appropriate Document IDs. The invoice can then be submitted in real time. The Async Response will deliver a notice of success or failure regarding the submission.

Take a look at this sample XML piece, returned after an Invoice Import Request:

sample xml 1

A sample XML section generated by the request.

In REALRemit®, the process is just as simple.

An Invoice Import Request is sent from the attorney. This is a single transaction that includes documents and line items.

The NetDirector automated process performs a log-in through REALTrans. Once inside, it automatically combines like Expense Codes and Line Items, uploads documents to corresponding line items, generates the notes in the format required by REALRemit and validates the submission by logging out and back in to see if the invoice is posted.

There is a returned Async Response that notifies the user of success or failure. Here is a sample of the XML from the process with REALRemit.

sample xml 2

A sample of the XML from REALRemit Invoice Integration.

The biggest benefit of leveraging the power of Invoice Integration is obviously saving time and resources. In fact, one firm that implemented the integration reported saving 30 FTEs by using the service! Additional benefits of using the Invoice Integration include:

  • Single Invoice Transaction
  • Upload of supporting documents
  • NetDirector manages 21 WS calls/requirements for Black Knight
  • Consolidation of like Line Items for REALRemit®
  • Creation of Notes for REALRemit®
  • Eliminates double entry / keying mistakes

For more information – contact us here or reach out to your Integration Analyst today.

Black Knight V3 Update February 2016

What does my firm need to know about Black Knight V3?

Upgrades are always intimidating – even updating the software on a smart phone can sometimes bring major issues – but this isn’t the case with NetDirector and Black Knight.

We’re here and ready for you to upgrade to V3 – if you’re currently handling the integration yourself, you can let us take over as the integration specialists to save yourself the development and maintenance time.

As for changes, a major upgrade has been made to the retrieval of referrals.   Where there was formerly a queue, there are now separate web services to obtain loan, referral and step description information.  In addition to this, it is the responsibility of the integrator to identify what is new to what has already been received.  There are also additional fields available in V3 for referrals, such as Client Region Code.

Standard Event integration has also received an upgrade – There are now 4 separate web services calls (step completion/DDF/Comments/Vendor Reference update) compared to the 1 in V2.  However, if you are currently integrated with NetDirector in V2 for standard event, you do not need to change anything.

Previous deficiencies in V3 have been addressed by Black Knight as the SSN functionality (able to receive the last 4 of SSN) and Document Upload limits match what is in V2.

The deadline to submit the migration forms to Black Knight was 12/31/15 – if your migration form was not submitted prior to this date, contact your Integration Analyst at NetDirector or your Black Knight representative for pricing on the upgrade.

  • V3 Functions
    • Referrals and Workload – LIVE!
    • Documents (upload/download) – LIVE!
    • Doc Request available in V3 in November 2016 Standard Events (basic) – LIVE!
    • Launch Process/Add Hold/Fees & Costs/All other transactions – LIVE!
    • Standard Events (DDF’s) – LIVE!

If you have any questions, please feel free to contact us online or reach out to your Integration Specialist for more help.

Black Knight V3 Update 2

BlackKnight_logo

Black Knight™ V3

We have been busy working with many of you on the Black Knight™ V3 transition. We have made a lot of progress; many customers are live and already taking full advantage of the 2015 incentives. Here’s a quick update on our progress.

New Features

  • Referrals – No more referral status. All “New” referrals will be determined by Process Type.
  • At this time “Document Uploads” will be limited to 8MB in V3 compared to 20MB in V2.
    • This is being reviewed by Black Knight management to possibly change.

Many V3 Functions are LIVE!

  • Invoice Management – LIVE!
  • Referrals and Workload – LIVE!
  • Documents (upload/download) – LIVE!
  • Standard Events (basic) – LIVE!
  • Launch Process/ Add Hold/Fees & Costs/All other transactions – LIVE!
  • Standard Events (DDFs – Dynamic Data Forms) – Finalizing

Need to know…

  • SSN functionality as it is in V2 and Bankruptcy information are now available.
  • The deadline for Black Knight to cover the V3 implementation is December 31st, 2015.
  • What is the process to make the transition?
  • Is there a reason I should make the transition?

Benefits of using
NetDirector vs. Connecting Directly

  • NetDirector manages all web service call changes, which can happen often with Servicer requirements shifting regularly
    • No UAT region sign-off or ongoing fees
  • Streamline business processes to improve inefficiencies
  • Improve or maintain high standards compliance
  • Reduce development resources
  • Significantly reduce overall costs

For more information, contact your Integration Analyst or Darren Meiggs at darren@netdirector.biz or 813.345.4634.