An enterprise class CFPB compliant on-demand pay-off calculator


A payoff requests processing system that facilitates automated creation of pay-off statements, ensures compliance with CFPB rules and mortgage servicing standards. VisiPayOff integrates with leading IVR systems and provides a common rules based platform for generating and processing pay-offs for all business channels. VisiPayOff is uniquely designed for easy integration with major servicing systems to enable real-time access to servicing data and provides options to use the built-in letter writers for pay-off statements.

Challenges to Mortgage Loan Servicers

Mortgage loan servicers and subservicers face challenges in keeping up with requirements for payoff statements. Changing Federal and state regulations, the requirements of master servicers, investors and guarantors can result in incorrect amounts on statements. The results are shorted payoff funds that servicers must accept as well as reduced fee income. The changing requirements also mean the manual production of more statements, increasing the cost per loan for servicing.

Our Solution – VisiPayOff

Rules-based VisiPayOff is an enterprise class solution which facilitates the automated creation of payoff statements and ensures compliance with regulations and requirements. This approach maximizes the flexibility of the system; it can manage the needs of a large hierarchy of supervisory bodies. It also makes the system agile; most changes to the system do not require programming.

This is how it makes the process efficient and trouble-free:

Rules Based

VisiPayOff’s use of rules and the reference data, which drive the rules, make it possible to accommodate all of the guidelines and regulations governing the production of payoff statements. Adding a new investor, guarantor or master servicer to the portfolio usually requires only changes to the rules or to the reference data they use. These changes can be made quickly and can be implemented after a short testing period.

Multiple Request Sources

Payoff statements can be requested via a call to a CSR, a fax, through the IVR or from a customer portal. Each request source is validated using the servicer’s desired protocol. All requests follow the same process and produce an identical payoff amount. Each type of request can be fulfilled in each of the available output types. Each type of request is tracked within the system. SLAs can be set for processing and multiple priorities can be assigned as necessary. A dashboard is available to monitor the status of the requests in the system. Reports provide an analysis of productivity and can pinpoint bottlenecks.

System Integration

VisiPayOff uses servicing system data to calculate the payoff figure. The system is easily integrated with the servicing system or with the servicer’s operational data store (ODS). Payoff statements may be generated through the servicing system or outside of it. If generated outside of the servicing system the output information can be uploaded to the servicing system or a log message entered.

VisiPayOff is also easily integrated with a number of other technologies, including IVRs, fax servers, customer portals, imaging systems and data warehouses.

Exception Processing

If VisiPayoff encounters a problem it will route the request to an exception queue for processing. The appropriate servicing team members or external partners (attorneys) can be notified that their input is required to complete processing. Missing or incorrect data can quickly be fixed and the request completed.

External Partner Access

VisiPayOff can be configured to allow access by external business partners as needed to create statements. This is particularly useful for processing requests for loans in bankruptcy or foreclosure. The required attorney can be notified and sign into the system to complete their portion of the request.

Private Label Subservicing

VisiPayOff provides private label service for master servicers. Subserviced loans can have their own rule sets and output templates. They can also have their own output destinations whether their own fax server or customer portal.

Multiple Output Types

Output can be created using a printer, fax server or it can be loaded to a customer portal. It can also be sent via secure email. The system can be configured to use multiple letterheads for private label subservicing. For priority handling an express delivery label can be generated with the statement. The ODS can be updated with the information from each request.

History and Audit Trail

VisiPayOff maintains a complete history and audit trail for each request. This can be used to identify issues with the statements and to perform quality assurance.

Visionet offers a comprehensive range of solutions and services for mortgage and title firms. To learn more, please visit the Visionet Mortgage microsite.