Why VAT/Newbold Cloud-Claims?
VAT Mortgage’s cutting-edge claims automation system ensures maximum recovery costs in the default and foreclosure claims process. Newbold experts can work with you to seamlessly integrate Cloud-Claims into your current system.
How does Cloud-Claims work?
The Cloud-Claims system uses three steps to automatically process your claims:
Prepare
Until now, servicing professionals hand-processed years’ worth of default and foreclosure claims leaving room for missing and inaccurate data. The Cloud-Claims system automatically collects and processes default and foreclosure data quickly and efficiently from any mortgage servicing system.
Calculate/Reconcile
Once data gathering is completed, the system automatically builds and calculates each claim to determine loss analysis. A comprehensive rules engine identifies and corrects any missing and non-compliant information, which avoids costly penalties and missed deadlines.
File
Once the information is accurate and complete, the system creates a submission-ready claim using industry-acceptable forms. HUD, GSEs, investors and MI companies each receive a completed and verified electronic claim.
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