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.
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
Good Through Date
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.