Issuesand declarations
1
Based on what I have seen over the past week while handling issues, I can see a need for three additional ones: a) BK Information: Attorneys would use this to provide us with updates or results of hearings so the information could be noted and added to AS400. This should diminish the BK Issue issue volume and provide an appropriate template for updates b) BK Process: Since the BK Close title is in use at this point, this issue could be used for those cases that have been dismissed and are in need of being sent to Closing to facilitate movement to the next stages. Rather than using the BK Issue issue, again, or needlessly placing processes on hold, attorneys would have an outlet for notifying the Bank that a case should no longer be in bankruptcy coding in our systems. c) BK Declaration: To be used when a supplemental declaration for objections is needed. In many ways, this would encourage attorneys to provide ample time for these to be reviewed, corrected as needed, and signed before being returned. The idea would be to eliminate the last minute intercoms and rush to finalize these documents. Alternatively, rather than an issue for Declarations, as there are plenty of those, a process in LPS would work equally as well, if not better, as there would be a work group and specific steps to follow, ensuring that the whole process was completed accurately and timely. To that end, I would propose the following: 1. Declaration Sent for Review (Attorney Step): date 2. Declaration Received (Servicer Step): date 3. Reviewed Declaration Handed to Lead (Servicer Step): date 4. Revisions Required? Y/N 5. If Y, Intercom sent to attorney. (Servicer Step): Date. If N, Signed Declaration uploaded (Servicer Step): date. Proceed to Step 7 6. If Y, Acknowledgement of Receipt (Attorney Step): date 7. If Y, Corrections made and declaration returned (Attorney Step): date 8. Repeat Steps 3-7 as needed 9. Intercom and Hard copy sent (Servicer Step): date 10. Acknowledgement of Receipt (Attorney Step): date Repeated steps do not have to relaunch if dates can be cleared and stored for recordkeeping purposes.
-
Upload
matthew-zebehazy -
Category
Business
-
view
14 -
download
0
Transcript of Issuesand declarations
Based on what I have seen over the past week while handling issues, I can see a need for three additional ones:
a) BK Information: Attorneys would use this to provide us with updates or results of hearings so the information could be noted and added to AS400. This should diminish the BK Issue issue volume and provide an appropriate template for updates
b) BK Process: Since the BK Close title is in use at this point, this issue could be used for those cases that have been dismissed and are in need of being sent to Closing to facilitate movement to the next stages. Rather than using the BK Issue issue, again, or needlessly placing processes on hold, attorneys would have an outlet for notifying the Bank that a case should no longer be in bankruptcy coding in our systems.
c) BK Declaration: To be used when a supplemental declaration for objections is needed. In many ways, this would encourage attorneys to provide ample time for these to be reviewed, corrected as needed, and signed before being returned. The idea would be to eliminate the last minute intercoms and rush to finalize these documents.
Alternatively, rather than an issue for Declarations, as there are plenty of those, a process in LPS would work equally as well, if not better, as there would be a work group and specific steps to follow, ensuring that the whole process was completed accurately and timely. To that end, I would propose the following:
1. Declaration Sent for Review (Attorney Step): date2. Declaration Received (Servicer Step): date3. Reviewed Declaration Handed to Lead (Servicer Step): date4. Revisions Required? Y/N5. If Y, Intercom sent to attorney. (Servicer Step): Date. If N, Signed Declaration uploaded (Servicer Step):
date. Proceed to Step 76. If Y, Acknowledgement of Receipt (Attorney Step): date7. If Y, Corrections made and declaration returned (Attorney Step): date8. Repeat Steps 3-7 as needed9. Intercom and Hard copy sent (Servicer Step): date10. Acknowledgement of Receipt (Attorney Step): date
Repeated steps do not have to relaunch if dates can be cleared and stored for recordkeeping purposes.
