Q1: What is Web Direct?
A1: Web Direct is a secure and cost-effective Internet-accessible platform delivering targeted servicing solutions to meet the needs of businesses that service, regulate and invest in mortgages. Currently, these include Dynamic Loan View (DLV) and Payoff Express. The website features an BKFS-developed user interface component that is intuitive and easy to use.
Q2: What are the advantages of using Web Direct in lieu of alternative channels to access loan-level data in BKFS's Mortgage Servicing Package (MSP)?
A2: The solutions delivered via Web Direct are accessed via the Internet using a single sign-on. The solutions accessed via Web Direct require no knowledge of MSP, little or no implementation or training, and no installation of software. All the user needs is an Internet connection. BKFS has already built the user interface so no development effort is required of the user company.
Q3: What is the implementation process for user companies interested in solutions delivered via Web Direct?
A3: The first step is to contact your BKFS Account Director. A Statement of Work (SOW) is then executed as part of implementation and training. The set-up process can differ depending on your specific business need. Once the Web Direct User Agreement presented by your BKFS Account Director is received and set-up is completed per the SOW, your designated User Company Administrator(s) will be granted access to BKFS' Admin Suite where user administration functions are managed.
Q4. What are the hardware/software requirements for Web Direct?
A4. As long as you use a Microsoft Internet Explorer (IE) browser and have Internet access, you should not need any hardware modifications to use Web Direct. No additional software is required for your computer.
Q5. What browsers can I use to access this website? What is the minimum screen resolution?
Q7. Why do I receive a Page Not Displayed or Common Encryption error when signing on to Web Direct?
A7. If you are having problems logging on which you believe are not associated with your username or password, you may not be using a 128-bit encrypted browser. If you are not using a browser with 128-bit encryption, you will receive the following: Internet Explorer Users: If you receive a message about "secure channel support" or you get a page starting with "The page cannot be displayed," then you likely do not have a 128-bit IE browser.
Q8: How can I learn more about Web Direct?
A8: Contact your BKFS Account Director about the capabilities of Web Direct and the targeted solutions made available to users view this channel, including DLV and Payoff Express.
Q1: What is DLV?
A1: DLV addresses the need for immediate access to MSP loan information presented uniformly across the loan portfolios serviced on MSP to aid service processing and decision-making. It is easy to use, secure and cost-effective. With the recent addition of filtering capability, it is also highly flexible in allowing servicers to narrow the loans eligible for viewing based on select criteria such as investor number, branch number and private label servicing ID. Authorized DLV users simply logon to www.LPSWebDirect.com then locate the loan in question to read or update pertinent MSP data as needed. The MSP servicer indicates the standard view(s) available to internal employees, affiliates, business partners, regulators and businesses with a need to access MSP information at the loan-level.
Q2: What are some practical applications for using DLV?
A2: DLV can be utilized by a broad range of people to perform a variety of tasks. By enabling MSP clients to filter accessible loans based on one or a combination of 17 parameters, DLV accommodates the information needs of virtually any business user. Payment aggregators can view payment-related information to determine the payment amount due and decide whether they should accept a payment from the borrower. Master servicers and investors can retrieve relevant information on the subset of loans that servicers are contractually obligated to provide them. Outsourcers can add a note or memo in the course of servicing the loan. Servicers can give tellers the ability to provide mortgage information to customers and to accept mortgage payments at the branch. Filtering criteria can also be set to ensure that servicers' contract, temporary and remote employees have access only to the loans they need to carry out their assigned business functions.
Q1: What is Payoff Express?
A1. Using Web Direct as the Internet delivery channel, Payoff Express allows authorized users to obtain payoff quotes in a standard format from the servicer community at large. Payoff Express also features the automatic generation of amended payoff quotes as loan conditions change, to ensure reliance on the most up-to-date payoff information.
Q2: How does Payoff Express work?
A2: Payoff Express is tightly integrated with the Payoff Workstation in MSP. The settings in the Payoff Workstation along with Payoff Express configurable rules defining exclusions are used to determine loan eligibility and are client-configurable for purposes of providing quotes to third parties. Successful requests for payoff quotes result in auto-generated updates to the MSP Payoff Workstation and OLLW History. Payoff Express generates Payoff Express Letters in the form of a PDF to the requester, as well as reports to track activity.
Q3: How do mortgage servicers go about implementing Payoff Express?
A3: BKFS implements Payoff Express with the mortgage servicer and those title companies the servicer has approved to access payoff quotes via BKFS' central channel. Using client-configurable loan eligibility criteria, the mortgage servicer is involved in the testing and approval of Payoff Express before it goes into production.