07/15/2023
CLOUD-CLAIMS SYSTEM MARKS MAJOR MILESTONE (200K+ FHA Loss Mitigation Incentive Claims Processed)
[Edwards, CO, July 15, 2023] VAT Mortgage Services (VAT-MS) recently announced it has achieved a unique milestone in mortgage claims filing. Its addition of FHA Loss Mitigation Incentive Claims to the Cloud-Claims system incorporates rapid adaptation and deployment that has resulted in over $4 Billion of proceeds recovered for its clients. Since launching its FHA Loss Mitigation Incentive Claims technology, the Cloud-Claims application provides a real-time method to generate incentive claims through the FHA Catalyst portal.
In addition to Cloud-Claims generating over 200,000 FHA Loss Mitigation claims, VAT-MS has recently introduced an enhanced web service for a nonobtrusive method to import and validate data content in a matter of seconds, making the old, manual method of input-and-validation obsolete, while setting a new industry standard for loss reduction.
Leveraging VAT-MS' industry experience, it's Cloud-Claims' Comprehensive Rules Engine (CRE), and data import methods, determine if key claim timelines or critical data elements were missed to ensure guideline compliance. The FHA Incentive Claims functionality supports claim assignment load balancing, submissions, payment tracking, and detailed reporting all in one place. VAT-MS can implement this functionality in weeks, not months.
Don Davis, Managing Partner, and Chief Compliance Officer of VAT-Mortgage Services, looks forward to expanding offerings like FHA Incentive Claims web service filing, because "this is exactly what the Cloud-Claims platform is built for. Cloud-Claims supports all facets of a servicer's claims filing needs and easily adapts to changing market conditions, mortgage insurance programs, and regulatory updates." VAT-MS' commitment to its client's claims processing technology needs, using innovative rules engine and electronic filing capabilities, continues to make its software the most advanced, versatile, and cost-effective claims system in the mortgage industry.
Since its original implementation of the Cloud Claims system, VAT-MS has helped 3 of the industry's top 10 mortgage servicers increase the timeliness and accuracy of their HUD, VA, and USDA mortgage insurance claims filings.
About VAT-Mortgage Services: VAT Mortgage Services (VAT-MS) is a technology provider of the most comprehensive Mortgage Insurance and Investor, claims-processing solutions available to the residential mortgage industry. Anchored by its Cloud-Claims platform, VAT-MS offers solutions that electronically integrate the FHA, VA, USDA, Fannie Mae, Freddie Mac, and MI Claims filing process. VAT-MS' unparalleled rules-based business intelligence technology ensures that mortgage lenders capture all benefits, reduce losses, and retain profits. VAT-MS technology operates in a secure SSAE-16 data environment and is supported by a staff of industry experts. To learn how VAT-MS can help protect your portfolio please visit www.vat-ms.com.
05/01/2020
Denver, CO - VAT Mortgage Services announces release of its FHA standalone Incentive Claims Module to support the Servicing Communities efforts in complying with the CARES Act and working with borrowers impacted by COVID-19 Pandemic.
To assist the Servicing community in handling the expected volumes Cloud-Claims is introducing a new "Quick Start" program for the FHA Incentive Claims (Type 31-Special Forbearance, 32- Modification, 33-Partial Claim). Please contact us via email or call us at 844.244.3100 for a demo.
06/12/2019
Denver, CO - VAT Mortgage Services, LLC is pleased to announce an MSA agreement with LoanCare, a Servicelink Company. This agreement will support LoanCare’s default process.
09/01/2018
Denver, CO –VAT-MS launches USDA claims management through Cloud-Claims with Penny Mac.
USDA, the U.S. Department of Agriculture Guaranteed Housing Loan program, claims can now be handled through Cloud-Claims. Cloud-claims offer’s a seamless integration, supporting all relevant claim types.
A custom interface has been written to automate claim data and allow simple upload to USDA website minimizing data entry errors, expediting claim processing time as well as providing book loss, categorization and explanation of benefits once a claim has been finalized. With the ability to manage all your claims no mater type from a single platform the addition of the USDA module enhances a servicer’s control of the default claims process.
09/01/2017
Denver, CO –VAT-MS launches Valeri (VA) claims management through Cloud-Claims with Penny Mac.
As a top national mortgage lender, PennyMac is committed to providing its customers with a range of innovative solutions to help them purchase, refinance or simply remain in their homes.
PennyMac Financial Services Is a Leading Mortgage Specialist:
• Operating subsidiaries founded in 2008; publicly traded (NYSE: PFSI) since 2013
• Specialized mortgage platform with more than 2,900 employees
• Track record of successful growth in business volumes and profitability
• Commitment to strong corporate governance and compliance culture
• Investment partnership with PennyMac Mortgage Investment Trust (NYSE: PMT)
www.pennymacusa.com
06/22/2017
Denver, CO – Penny Mac, signs an agreement with Cloud-Claims for claims management for USDA loans. As a top national mortgage lender, PennyMac is committed to providing its customers with a range of innovative solutions to help them purchase, refinance or simply remain in their homes. PennyMac Financial Services Is a Leading Mortgage Specialist:
• Operating subsidiaries founded in 2008; publicly traded (NYSE: PFSI) since 2013
• Specialized mortgage platform with more than 2,900 employees
• Track record of successful growth in business volumes and profitability
• Commitment to strong corporate governance and compliance culture
• Investment partnership with PennyMac Mortgage Investment Trust (NYSE: PMT)
www.pennymacusa.com
10/23/2015
Denver, CO – PennyMac, one of the top 3 national lenders signs an agreement with Cloud-Claims for claims management for FHA, VA and Conventional loans. As a top national mortgage lender, PennyMac is committed to providing its customers with a range of innovative solutions to help them purchase, refinance or simply remain in their homes. PennyMac Financial Services Is a Leading Mortgage Specialist:
• Operating subsidiaries founded in 2008; publicly traded (NYSE: PFSI) since 2013
• Specialized mortgage platform with more than 2,900 employees
• Track record of successful growth in business volumes and profitability
• Commitment to strong corporate governance and compliance culture
• Investment partnership with PennyMac Mortgage Investment Trust (NYSE: PMT)
www.pennymacusa.com
06/10/2014
Denver, CO - VAT Mortgage Services to pleased to announce claim's electronic signature. This new feature allows users to have a Servicer Representative with ability to electronically sign claim forms based upon their user privileges.
06/01/2014
Denver, CO - In addition to Cloud-Claims running in the Windows environment, it now runs in an Unix environment; making Cloud-Claims scalable as well as portable at the application tier.
02/01/2014
Denver, CO - Cloud-Claims adds FastPadlr (Fast Parallel Application Data Loader) into the product solution. FastPadlr is a web based application designed to break up large data loads and process them simultaneously. FastPadlr is capabile of loading in multiple database schemas and segregate user classes. FastPadlr takes advantage of multiprocessing architecture by splitting up the processing power; much like load balancer.
04/20/2013
Denver, CO - VAT Mortgage Services announces the Cloud-Claims extenstion enabling the service to run in a device enabled architecture; moving Cloud-Claims into a low cost client running computing environment.
02/01/2013
Denver, CO - Cloud-Claims integrates new executive management dashboard feature. This new enhancement allows supervisor users with summary analytic statistical data.
06/01/2004
Denver, CO - Specialized Loan Servicing utilizes WRF(X) to create vendor proposals.
05/01/2003
Denver, CO - The United States Department of Agriculture (USDA) deploys VPR web service in the effort to perform on-line reviewing and rating of funding for Grant Applications.
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