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Scenario 1:
Borrower stops
making Payment
45 days
delinquent trigger
in Fiserv
Property
Inspection Flag
turned on
Fiserv Screen:
Field Inspection
NFR receives
notification that
loan needs
property
preservation
Terri Marinella
Scenario 3:
Notified by
external party that
property has
preservation
issues
Scenario 2:
Borrower advises
that property has
been abandoned
Property Inspection
performed by NFR
TM: Property Inspection
Invoice
$11-15(save invoice in
borrower scanned folder
on the O:drive)
Inspection results
show property
vacated or
preservation
issues
Terri Marinella
requests Property
Preservation
Estimate
Terri Marinella
reviews estimate
and compares to
Insurer Allowables
Is estimates within
insurer allowable
limits?
TM: Request
approval from
appropriate MI
company
TM: Request NFR
to perform
property
preservation work
TM: Receive Final
Invoice from NFR(save
invoice in borrower
scanned folder on the
O:drive)
TM: Approval received
from insurer(save
approval in borrower
scanned folder on
O:drive)
TM: Confirm Final
Invoice Matches
Estimate
TM: Input Invoice
as Fee Code 100
Fiserv Screen:
Post Fees$$
Brian Johnson
Billed in Fiserv
DRM for each loan
Property Preservation Invoice Processing
Created: 04/16/2010
NO
YES
NFR: Input loan
level detail on
Fiserv that
property
inspection was
performed
Monthly Invoice
for Property
Inspections
