Benefits of Fees and Costs Request

  • Get paid faster
  • Reduce revenue leakage
  • Reduce manual effort
  • Increase overall efficiency

There is a transaction available for Black Knight Financial Services users called the Fees and Costs Request. This transaction has recently seen an upswing in adoption among five different clients and we wanted to share the benefits for other users.

The transaction allows the servicer to send a request to the attorney for fees and costs on a loan. By utilizing automation, this keeps attorneys from having to manually reference the fee and cost information, eliminating manual error and reducing the time spent by employees on referencing systems. NetDirector’s Fees and Cost Request utilizes the data that already exists to trigger events and avoid duplicate work.

This provides:

  • the ability to import the servicer’s fees and costs information promptly to your case management system
  • increased response time between attorney and client
  • efficiency boost thanks to automation

The XML data includes

  • Loan
  • Good Through Date
  • Comments
  • Request Reason
  • plus other pertinent fields.

There is also a related Fees and Costs Response transaction that correlates to the request. Refer to the data dictionary on the web application or reach out to your analyst for more information on the BKFS Fees and Costs Request/Response transactions.