NRT REOEXPERTS LLC AGENT BILLING GUIDELINES AGENTS WHO HAVE OR WILL HAVE ACTIVE BILLING WITH REO ASSIGNMENTS FROM NR by hxp35510

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									                                         NRT REOEXPERTS LLC
                                       AGENT BILLING GUIDELINES

AGENTS WHO HAVE OR WILL HAVE ACTIVE BILLING WITH REO ASSIGNMENTS FROM NRT REOEXPERTS
LLC ARE REQUIRED TO THOROUGHLY READ AND ADHERE TO THE FOLLOWING GUIDELINES.

                                                 HOW TO SUBMIT
EFFECTIVE 12/1/09, ALL REIMBURSEMENT REQUESTS MUST BE SUBMITTED VIA INVOICE MANAGEMENT.
NO EXCEPTIONS. ALL BROKERS OR AGENTS WHO HAVE OR WILL HAVE ACTIVE BILLING WITH REO
ASSIGNMENTS FROM NRT REOEXPERTS LLC MUST OBTAIN AN INVOICE MANAGEMENT ACCOUNT AND
HAVE NRT ACTIVATE THEIR ACCOUNT TO REMAIN ELIGIBLE FOR REIMBURSEMENT FROM NRT. FOR
QUESTIONS OR TO SIGN UP, PLEASE VISIT WWW.NRTSIGNUP.COM


IF YOU CHOOSE NOT TO PARTICIPATE IN THIS PROGRAM, PLEASE NOTE YOU RISK NOT BEING
REIMBURSED FOR YOUR PROPERTY EXPENSES.

                                 INVOICE DEADLINES – WHEN TO SUBMIT
To ensure reimbursement, it is recommended that all invoices for services incurred prior to closing be submitted by the
closing date. Only trailing invoices and final utilities will be paid provided the invoices are received within the invoice
deadline below:


 CLOSED/LOST PROPERTIES                   NON-FINAL UTILITY INVOICES                5 DAYS *
                                          FINAL UTILITIES                           30 DAYS *


* DEADLINE EXCEPTIONS. YOU MUST READ!
 Final utilities for PHH closed properties are paid from the HUD exclusively and will not be accepted
 ALL invoices for GMAC properties (including estimated final utilities) are due within 5 DAYS of close/lost date
 ALL invoices for EMC properties must be received within 60 days of the service date regardless of property status
 FOLLOW ABOVE GUIDELINES UNLESS OTHERWISE INSTRUCTED BY NRT.


                                         WHEN TO EXPECT PAYMENT
Provided your invoice is received within these guidelines, you should expect payment within 30 DAYS from the date
you submitted. Please review your invoice status in Invoice Management. In the event the invoice status shows paid
and you have not received a check within 30 days, please contact your asset specialist.


                                          CRITICAL INFORMATION
1. LISTING AGENTS MUST PAY FOR ALL EXPENSES INITIATED BY THE LISTING AGENT ON THE REO
    PROPERTY AND SUBMIT FOR REIMUBURSEMENT
2. ONLY THE EXPENSE REIMBURSEMENT FORM WITH GL CODES (SEE BELOW) WILL BE ACCEPTED. A
    FULLY FUNCTIONING COPY CAN BE DOWNLOADED FROM http://reoexperts.net/Forms.aspx
3. NRT RESERVES THE RIGHT TO FINALIZE PAYMENT IF THE AGENT HAS NOT RESPONDED TO
    RESOLUTION ITEMS WITHIN 5 DAYS OF NRT RESOLUTION REQUEST.
4. Duplicate invoices are NOT required
5. Before and after photos are required for all repairs over $500.00
6. Only once an invoice package is complete is it considered “submitted”
7. Please note the following are non-reimbursable expenses:
        a. Postage, courier, or delivery fees
        b. Handwritten adjustments on utility bills
        c. Reimbursable deposits or connect fees
        d. Occupancy checks
        e. Travel time or transportation charges
        f. Agent repairs to property that exceed $150.00
        g. Late charges
        h. Advertising invoices
        i. NRT REOEXPERTS LLC will not pay for utility service which exceeds 2 days after close or lost date.
8. Your invoice MUST INCLUDE the service address, type and date with your invoice
9. DO NOT submit an invoice with a past due balance. It will not be paid UNLESS a previous invoice or history for
    the past due balance is included along with service address, type, and date. History MUST date back to a zero
    balance.
10. DO NOT submit unpaid invoices for reimbursement!



      NRT REOEXPERTS LLC                                Page 1 of 4                                    as of 2/10/10
                         INVOICE MANAGEMENT FREQUENTLY ASKED QUESTIONS
     1. What if I don’t want to participate in this program?
             If you choose not to participate in this program, you risk not being reimbursed for your expenses. Please
             contact your asset specialist to reassign your assets and remove your name from our list of eligible agents.
     2. Is Invoice Management and New Invoice the same thing?
             Yes. LPS Desktop change the name of their product.
     3. How do I sign up with LPS Desktop Invoice Management (New Invoice)?
             Please visit www.nrtsignup.com for information to sign up for this program.
     4. The LPS Desktop™ Invoice Management (New Invoice) Registration process is asking for a Servicer’s
         name and Code. What do I fill in?
             Servicer’s name: NRT REOEXPERTS LLC
             Servicer’s Company Code: NRTREO
     5. When do I start submitting invoices through LPS Desktop™ Invoice Management (New Invoice)?
             12/1/09 all reimbursement requests must be submitted via Invoice Management.
     6. What name should I use when signing up with LPS Desktop™ Invoice Management (New Invoice)?
             You must use the same name that is on the checks you use to pay for services and the Federal ID or SS
             number must match.
     7. What if my company is already set-up with LPS Desktop™ Invoice Management (New Invoice)?
             The name on your Invoice Management account must match the name of who is paying for expenses and
             seeking reimbursement. If you use your company’s ID, NRT will cut the check to your company.
     8. Can I combine invoices?
             Multiple reimbursements for the same property can be combined on one invoice. Each property must have a
             separate check request.
     9. What if I received more than one NRT ID Number?
             This means that NRT has you in their database under more than one name. If this is the case, please e-mail
             nrt@nrtsignup.com with your name, Invoice Management ID, and completed W-9.
     10. Who can I contact if I have questions or problems with Invoice Management?
             Please contact LPS Desktop™ Invoice Management Customer Service at (651) 234-3640 or e-mail
             helpdesk@fis-lps.com. Contact your assigned asset manager for questions regarding property assignments.
             For NRT sign-up registration questions e-mail nrtsignup@nrtsignup.com.

                                    OTHER FREQUENTLY ASKED QUESTIONS
     11. Can I submit an invoice to be paid directly to the vendor and if so under what circumstances?
             ALL expenses incurred on the REO property initiated by the listing agent must be paid by the listing agent and
             are expected to be submitted to NRT REOExperts for reimbursement via Invoice Management (aka New
             Invoice). Listing agents are not required to pay for services such as property preservation, appraisals, BPO,
             and evictions ordered by NRT REOExperts. Any deviation from this policy requires pre-approval from your
             asset specialist.
     12. What if a vendor or contractor wants a deposit?
             NRT REOEXPERTS LLC does not make partial payments such as deposits for any services unless otherwise
             preapproved. Please discuss this with your assigned asset specialist.
     13. Can I put utilities in NRT REOEXPERTS LLC name?
             UNDER NO CIRCUMSTANCES IS THE LISTING AGENT AUTHORIZED TO USE NRT REOEXPERTS
             NAME OR FEDERAL ID NUMBER TO ESTABLISH ANY UTILITY SERVICE.
     14. Can I be reimbursed for my utility deposits?
             Deposits are NOT reimbursable as we expect you to get the deposit refunded after the property closes.
     15. What if I have a past due balance on a utility?
             To be reimbursed, you must produce account history dating back to when the account balance was zero.
     16. When am I required to obtain approval from my asset specialist?
             You must obtain approval on all expenses incurred on the property which are not utilities or routine
             maintenance within the approved dollar amount (see matrix below for guidance).
     17. Who do I contact if I have a billing question?
             Contact your assigned asset specialist. They will escalate any question or issue as needed.
     18. Where do I get a check reimbursement form? See attached
     19. Where do I get an estimated final utility reimbursement form? Under forms at www.reoexperts.net
     20. What if I underestimate or overestimate my final utilities, will I be reimbursed for the difference once the
         final bill is received (PHH and GMAC PROPERTIES ONLY)?
             NO. Your estimate is final. You will not be reimbursed nor will you be asked to reimburse NRT
             REOEXPERTS LLC for the difference.



                                     SERVICE DETAILS AND DOLLAR LIMITS
     **TAXES, SERVICE CHARGES OR TRIP CHARGES MUST BE PART OF THE PRICES QUOTED. THESE TYPES
     OF CHARGES SHOULD NEVER BE BILL IN ADDITION TO THE APPROVED PRICES.**

                                                                                                 APPROVED          APPROVED
  INVOICE TYPE                            DETAILS/REQUIREMENTS                                    AMOUNT          FREQUENCY

INITIAL SERVICES     Initial services are completed by the national vendor and include lock        $0.00                never
                     changes, board up/securing, interior/exterior trash removal, initial
                     lawn service, initial cleaning, winterization (from November thru April),
                     etc. You are responsible for inspecting the work performed and report
                     back to your Asset Specialist of any deficiency in workmanship.




           NRT REOEXPERTS LLC                               Page 2 of 4                                 as of 2/10/10
UTILITIES            Utilities MUST be activated in your name or your company’s name             $250.00              monthly
                     within 5 days of assignment and remain active until the property            Electric
                     closes or is removed from inventory.
                      EMC ONLY: UPP contractors are responsible for utility service             $100.00
                      Deposits are NOT reimbursable as we expect you to get a refund              Gas
                           after the property closes.
                      Monthly Charges - all invoices must be paid on time.                     $150.00
                      NRT does not reimburse late fees.                                         Water/
                      All invoices must contain a service address and service date.            Garbage/
                           Past due balances are not reimbursable without a copy of the          Sewer
                           previous bill or a history from the utility company showing the
                           balance back to zero.                                                  $100
                      Any invoices about the approved amount must be pre-approved                 Oil
                           by your Asset Specialist.
LAWN SERVICE         Lawn service is completed by the national vendor for all client banks       $50.00               7 days
                     EXCEPT the following. Agents are only expected to maintain lawn
                     service for the client list below…                                          SELECT
                                                                                              CLIENTS ONLY!
                            ACQURA
                            SAXON                                                            SEE NOTE TO
                            SAXON (SPECIAL SERVICING aka MORGAN)                              THE LEFT!
                            PHH

                     The property must be maintained until the property closes, during the
                     summer months weekly services must be in place. The invoice must
                     contain the property address, date of service and type of service.
                     There is a 7 day minimum between services. You are responsible for
                     inspecting the work performed and report back to your Asset
                     Specialist of any deficiency in workmanship.

SPRING LAWN          Spring cleaning and Landscaping such as mulching, irrigation repairs,        $0.00               requires
SERVICE              etc, must be approve prior to work and is not considered part of the                             approval
                     weekly lawn service. The invoice must clearly state work performed
                     as non-recurring service.
INITIAL POOL         The initial pool service must include chemical treatment, replacement        $0.00               requires
SERVICE              of equipment if needed and whatever is necessary to bring the pool in                            approval
                     a usable condition. You must ensure that the pool is child/accident
                     protected with locked 4’ perimeter fence, child fence, or caged. The
                     invoice must contain the property address, breakdown of the work
                     completed, and date of service.
RECURRING POOL       Pool Maintenance is completed by the national vendor for all client         $85.00               monthly
SERVICE              banks EXCEPT the following. Agents are only expected to maintain
                     pool service for the client list below…                                     SELECT
                                                                                              CLIENTS ONLY!
                            ACQURA
                            WAMU                                                             SEE NOTE TO
                            SAXON                                                             THE LEFT!
                            SAXON (SPECIAL SERVICING aka MORGAN)
                            PHH
                            MHFN
                            FIFTH3
                            FDIC
                            KEYBANK (requires asset specialist approval)
                            SUNTRUST (requires asset specialist approval)

                     The pool must be maintained until the property closes. The invoice
                     must contain the property address, date of service and type of
                     service. You are responsible for inspecting the work performed and
                     report back to your Asset Specialist of any deficiency in workmanship.


SNOW REMOVAL         Snow removal is completed by the national vendor for all client banks       $50.00           as needed
                     EXCEPT the following. Agents are only expected to perform snow
                     removal service for the client list below…                                  SELECT
                                                                                              CLIENTS ONLY!
                            ACQURA
                            SAXON                                                            SEE NOTE TO
                            SAXON (SPECIAL SERVICING aka MORGAN)                              THE LEFT!
                            PHH
                            FDIC
                            KEYBANK (requires asset specialist approval)

                     Keep the property accessible after snow days and make sure the
                     property is in compliance with city ordinances. The invoice must
                     contain the property address, date of service and type of service. You
                     are responsible for inspecting the work performed and report back to
                     your Asset Specialist of any deficiency in workmanship



            NRT REOEXPERTS LLC                            Page 3 of 4                                 as of 2/10/10
CITY INSPECTION    Complete City Inspections required by law for the sale of the property.         $295.00         one time only
                   Submit the final city inspection form (must contain the property
                   address) and proof of payment for reimbursement.

TERMITE            Submit this invoice only if the sale of the property falls thru, otherwise       $0.00               requires
INSPECTION         this charge is paid at closing. YOU MUST SUBMIT THIS INVOICE                                         approval
                   TO THE TITLE COMPANY TO BE PAID AT CLOSING. The invoice
                   must contain the property address, date of service and type of
                   service.
WINTERIZATION      Winterization is completed by the national vendor for all client banks          $150.00          as needed
                   EXCEPT the following. Agents are only expected to winterize
                   properties for the client list below…                                           SELECT
                                                                                                CLIENTS ONLY!
                          ACQURA
                          FDIC                                                                 SEE NOTE TO
                          KEYBANK (requires asset specialist approval)                          THE LEFT!

                   The invoice must contain the property address, date of service and
                   type of service. You are responsible for inspecting the work
                   performed and report back to your Asset Specialist of any deficiency
                   in workmanship.

DE-                De-Winterization is completed by the national vendor for all client             $200.00          as needed
WINTERIZATION      banks EXCEPT the following. Agents are only expected to de-
                   winterize properties for the client list below…                                 SELECT
                                                                                                CLIENTS ONLY!
                          ACQURA
                          FDIC                                                                 SEE NOTE TO
                          KEYBANK (requires asset specialist approval)                          THE LEFT!

                   De-winterization during the winter months can be done for inspection
                   only and must be followed by re-winterization. De-winterization
                   between May-Oct does note require re-winterization. The invoice
                   must contain the property address, date of service and type of
                   service. You are responsible for inspecting the work performed and
                   report back to your Asset Specialist of any deficiency in workmanship.

MINOR REPAIRS      All repairs of any kind and dollar amount must be approved by the                $0.00               requires
                   asset specialist. Provide bids and obtain written approval prior to start                            approval
                   of work. The invoice must clearly describe the work completed, the
                   property address and service date.

REHAB or MAJOR     The following must be completed prior to start of work:                          $0.00               requires
REPAIRS                 Provide bids to the asset specialist                                                           approval
                        Before photos
                        Written approval from asset specialist and client
                        Must have start and completion dates
                        Ensure the contractor is licensed and insured
                   You are required to inspect the work and obtain approval from the
                   asset specialist prior to submitting the invoice for payment. The
                   invoice must contain an itemized list with the corresponding charges,
                   property address, and service date. Before and after photos are
                   required for reimbursement!

HOA/CONDO          Obtain HOA/CONDO documents from the respective associations. In                 300.00          one time only
DOCUMENTS          the event an invoice is not available for reimbursement, we will need
                   a comprehensive receipt from the association that includes the
                   property address, description of the item (i.e. Condominium by laws
                   docs), and proof of payment.

HOA/CONDO DUES     The HOA/CONDO dues are paid by NRT REOEXPERTS LLC or the                         $0.00                never
                   client bank. We will not reimburse you for any fees paid without
                   preapproval from your asset manager.

CASH FOR KEY       All cash for key agreements are paid by NRT REOEXPERTS LLC                       TBD                 requires
(CFK)              and the CFK paperwork is submitted to the NRT REOEXPERTS LLC                                         approval
OCCUPANTS          CFK Coordinator. If you are asked to advance the funds, you must
                   submit the reimbursement form, executed CFK agreement, executed
                   CFK release, and proof of payment to be reimbursed.

CASH FOR KEY       All bonuses are paid to your company. No payment will be made to                 TBD                 requires
(CFK)              the individual agent. Submit your company invoice with a W-9 form                                    approval
AGENT BONUS        via Invoice Management.

SECOND OPINION     All second opinion BPO fees are paid to your company. Initial BPOs              $150.00              requires
BPO ONLY!          are not paid on your listings. No payment will be made to the                                        approval
                   individual agent. Submit your company invoice with the W-9 form via
                   Invoice Management.



          NRT REOEXPERTS LLC                              Page 4 of 4                                   as of 2/10/10
. No payment will be made to the                                         approval
                    individual agent. Submit your company invoice with the W -9 form via
                    Invoice Management.




           NRT REOEXPERTS LLC                               Page 4 of 4                                   as of 2/10/10

								
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