Escrow Direct Pay

  • Credit Unions
  • Banks
  • Finance Companies
  • Auto Dealers
  • Utilities

Escrow Direct Pay 

Time Saving Insurance Bill Resolutions, Reporting, and Payment

Remain compliant with Reg-Z, Fannie Mae, and Flood regulations that have made the escrowing of insurance premiums a mandate of lending, in certain circumstances. Escrow Direct Pay manages these costly functions by collecting, validating, and tracking down missing insurance premium bills, and making premium disbursements directly to the payees.

 

 

Benefits and Features

  • Capture additional data items including:
    • Premium amount due
    • Due date/economic loss date
    • Remittance address for the borrower insurance company or agency
  • Resolve problems by:
    • Notifying borrower and agent prior to due date
    • Providing insurance bill-specific customer service
    • Handling “mid-term replacement” problems
    • Proactively validating discrepancies
  • Integrations available with lender systems and procedures:
    • Tailored reporting program
  • Payment support available:
    • Payee mapping and certification
    • Allied pays on behalf of the lender – “Direct Pay”
    • Includes Mortgage EDI Processing
  • Additional Quality Assurance processes are utilized

Want to learn more about Allied Solutions?