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NetDirector Continues to Provide Best in Class Automation to Improve Compliance in Default Servicing Firms

TAMPA, Fla.Oct. 5, 2017 /PRNewswire/ — NetDirector, a cloud-based data exchange and integration platform, provides several data/document automation options for default servicing firms to promote increased compliance throughout the industry. Additionally, NetDirector has maintained and standardized the SOC 2 Type II security procedures in-house to ensure compliance at all points in the flow of data.

With the ever-changing atmosphere of the default servicing industry, it is important for firms to maintain the quality and compliance of the work they do while focusing on efficiency and their bottom line. Among the services available to improve compliance through automation are:

SCRA Military Search

The Service members Civil Relief Act (SCRA) requires foreclosure attorneys/trustees check whether borrowers are active duty military members. NetDirector’s Military Search interface streamlines this process and allows subscribers to check active duty status without leaving their case management systems (CMS), alleviating data keying errors and improving timelines.

Firms are required to perform this search on a regular basis to maintain compliance – the most common solution is simply to dedicate employee hours to performing the searches and logging the information. This is an expensive and inefficient solution, that only mitigates the compliance risks to a certain degree – the human element of this solution leaves room for compliance errors that foreclosure firms simply cannot afford.

“NetDirector has allowed us to focus on our core competencies by managing our data & document integration needs. Our firms are seeing the benefits of eliminating data entry and manual business processes for military search, document uploads, and milestone events,” said Ron Llewellyn, Associate Director of Application Services at Barrett Daffin Frappier Turner & Engel L.L.P.

Additionally, the NetDirector automated military search is fully compatible with the recent DoD website enhancements – many firms are already utilizing NetDirector to solve the challenges of integrating with the new website without increasing dedicated labor and resources to an ongoing concern. For more detailed information on PACER automation, click here to visit our website.

PACER Bankruptcy Search

The Federal court has several bankruptcy court district and divisions upon which bankruptcy dockets are available for verifying bankruptcy filings. NetDirector’s Bankruptcy PACER integration suite alleviates the manual need to log in to multiple court sites (both National and Regional) and/or manually search for the bankruptcy filing -thereby reducing timelines.

The round-trip data interface allows NetDirector subscribers to send requests to the PACER Case Locator site to search for current and prior bankruptcy filings. The automated response can include information on cases filed in other districts/divisions and links to current and prior case dockets and documents. More importantly, returned searches and dockets have live hyperlinks within the PDF documents – saving time by eliminating the need to re-key search information and providing a direct link to cases and docket information for future retrievals. This directly increases a firm’s compliance while automating and simplifying the amount of work required for this mandatory step in the foreclosure process.  For more detailed information on PACER automation, click here to visit our website.

“NetDirector has played a key role in increasing system and workflow efficiency across multiple departments,” said a representative of Rubin Lublin, LLC. “With the processes and checks they have in place we can feel assured that the integration is working and accurate. I have worked in the foreclosure industry over 17 years, and NetDirector is by far the best thing to come along for firms in the past decade.”

Industry Leading Security Standards for Compliance

The SOC 2, or Service Organization Controls 2, is an examination under AICPA standards designed for technology service companies to demonstrate controls around data security and processing integrity. The SOC 2 reports are intended to meet the needs of a broad range of users that need to understand internal controls at a service organization as it relates to security, availability, process integrity, confidentiality and privacy. The Type II report is a report on management’s description of a service organization’s system and the suitability of the design and operating effectiveness of controls.

“NetDirector displayed the necessary controls in their SOC 2 Type II attestation report,” said Scott Price of A-LIGN, the company that performed the SOC 2 analysis. “Their security and management teams were great to work with throughout the process. There is a strong attention to detail in the organization.”

In addition to the in-house attestations, the data centers utilized by NetDirector through Peak10 maintain the same security standards or higher in all aspects of their company. Many technology companies have recently been brought to light as claiming true “compliance” in their organization, when they really mean that their data center has gone through the rigorous examination. At NetDirector, the belief is in transparency and clear communication regarding security so that the boost in compliance and efficiency is ultimately passed along to the firms and servicers participating in the integration network.

Company Bio:

NetDirector provides a secure cloud-based data and document exchange solution for the healthcare and mortgage banking industries to deliver seamless data integration between parties. NetDirector bridges gaps created by disparate systems & technologies by allowing companies at any location to share data & documents securely over a single internet connection with any other member of the ecosystem. Our approach allows trading partners to collaborate and exchange data in a seamless, bi-directional, real-time manner. With security and longevity as a focus, NetDirector is a certified SOC 2 Type II and HIPAA Compliant company, a 6-year member of the prominent Inc. 5000, and currently, processes more than 9 million transactions per month.

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