Top Servicer Saves 2,000 Hours in Case Audits
- Financial Services
The lender and servicer needed a more efficient and cost effective way to audit payment change notices throughout the lifecycle of the bankruptcy.
Bank and Non Bank / Servicers & Subservicer
Compliance & Risk, Bankruptcy
Compliance, Secured Lending, Unsecured Lending
AACER's Premium Data solution Each month, AACER's Premium Data solution automatically identifies and lifts critical documents from the claims register for specific entity names. Within the documents, field level data points are identified, extracted and returned automatically for audit purposes.
Our automated solution saved the lender and servicer six (6) minutes for each case audit, totaling 2,000 hours in the first year. This includes manually opening each case, reviewing the claims register, auditing each critical document associated to the claim upon every filed payment change notice.
Additionally due to automation, the next year review will only consist of auditing the newest filed documents on the claims register versus all critical documents.
- Provide AACER with a list of cases and the data fields to be lifted from court filed documents.
- AACER locates, provisions and extracts the desired data fields from the documents.
- AACER delivers Premium Data results to customer.
- Customer leverages data for audits, remediations, QA or other requirements.