Client need

A national loan servicer approached Epiq Bankruptcy with a request to help reduce their reliance on the manual lookup and updating of Trustee payment allocations.

Epiq solution

Vertical: Loan Servicers and Subservicers

Stakeholder: Finance and Credit Issuers; Cash and Payment Management

Solution: Trustee Payment Matching, Docket, Claims and Disposition Monitoring

Risk Area: Customer Receivables; Secured Lending; Unsecured Lending

Solution

Customer utilized AACER's Cashiering to automatically match Trustee payment vouchers from National Data Center (NDC) to cases in the AACER platform and access bankruptcy payment information. For customers already using AACER Docket Monitoring, AACER "flips the switch" in the platform enabling instant payment visibility.

Epiq results

By dynamically matching payments in a single location in the AACER platform, the customer saved hundreds of man-hours monthly and lowered their risk of missed payments allocations.

Steps Involved

AACER displays both the aggregated Trustee vouchers and payment details in a single view.

Servicer can then quickly and accurately apply payments to correct loans.