Posts

Transaction Spotlight: Fees and Costs Request

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.

Black Knight V3 Update 1

Black Knight V3What does my firm need to know?

  • What is different from how I receive/send information now?
    1. Referrals
    2. Standard Events
    3. Async Responses
    4. The July 12th release includes SSN functionality and Bankruptcy information as previously in Version 2
  • Is there a reason I should make the transition?
    1. New Enhancements will only be offered in V3
    2. Black Knight is covering the implementation cost until December 31st, 2015
  • Deadline for Black Knight to cover the V3 implementation is December 31st, 2015
  • What is the process to make the transition?
    1. Contact your NetDirector Integration Analyst to get the specifics on the items that have changed given your current portfolio of transactions with Black Knight.
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4 Tips for Improving your BKFS/LPS Desktop APR Score

The BKFS/LPS Desktop (“BKFS/LPS”) APR scorecard is the benchmark for which BKFS/LPS ranks your firm against others in your state. We have put together some simple Blog_BKFS_LPSVCStips to help improve this score. Each state has their own weighting concerning the value of each step; however most states percentages are close to those given in the tips below. I invite you to add your favorite tips in the comment section.

Top APR Improvement tips:

  1. Referred to Received. This is calculated from the minute the servicer fills out the File Referred to Attorney event of BKFS/LPS and stops when the File Received by Attorney event is filled out. It is calculated from 8am – 5pm CST Monday – Friday excluding the 10 Federal holidays. The faster you can send back the event the lower this time will be and the better your APR score will be. However, this event only counts for approximately 2% of your overall APR score so in the big picture it is relatively unimportant. Any automation that can be done based of the file referred action can not only improve your APR score, but also allow your firms labor to focus on other manual processes required to complete larger weighted portions. Read more