Client avoids millions of dollars in potential penalties with AACER notification services

Banks and loan servicers manage large credit portfolios with tens or hundreds of thousands of loans and borrowers to manage. Any of those borrowers can file bankruptcy at any time. When a borrower’s bankruptcy goes undetected, the servicer becomes exposed to avoidable risk across the organization.


A leading non-bank originator and servicer managed a credit portfolio with millions of borrowers. The servicer had comprehensive processes for bankruptcy filing detection and monitoring. It believed it had completely mitigated the risk of missing its borrowers’ bankruptcy filings, and the associated costs of non-compliance with federal regulation and for not participating in bankruptcy cases. The company sought to test its operations prowess, and ensure it missed no bankruptcy filing.


The company chose to partner with Epiq AACER. We deployed AACER notification services to search across court records to identify each filing within the servicer’s entire loan portfolio and create a schedule for active cases.


For this extremely process- and technology-oriented servicer, the results were eye-opening. AACER notification services identified over 400 additional bankruptcy filings in the company’s loan portfolio. This meant that the company was vulnerable to millions of dollars in fines and fees, as well as losses due to non-participation in cases. The company quickly moved to integrate AACER services into its daily processes and close all gaps.

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