You can automate tax record setup thru a tax vendor. Servicing Director supports tax record set up through First American or Land American, By automating your tax record setup, you can eliminate manual entry of escrow records which reduces keying errors and rejects at the billing time.
To automate tax setup: 1 .Verify that your system is prepared for automated tax setup.
2. Verify that the following fields contain data:
- Ordinal Escrow required (Loan Setup-Basic information screen)
- Property Address (Loan Setup-Property Screen)
Note: First American recommends that loans refinanced internally are indicated as such in the export. Verify that the following fields on the Loan Setup - Additional Information screen contain data:
- Tax Contract
- Inhouse Refinance
- Previous Inhouse LoanID
3. Create an export file that contains loans that you want to automate tax tracking for.
4. View a report that contains exported loans to verify that the export was successful.
5. Send the export file to your vendor. Your tax vendor will review the file and send back a file with tax records for the loans that you exported.
IMPORTANT! The export file sent to your vendor is routed to the tax contract (ADDS) division of both First American and Land America; therefore, loans included in the automated tax setup are no longer eligible as new business on the ADDS export.
First American continues to provide tax contract numbers via the ADDS import file. Land America includes the tax contract number with the TLS file, which eliminates the need for the ADDS import.
If the tax contract for a loan needs to be cancelled, you must use the ADDS export to notify the vendor.
6. Import file with tax records into your system.
7. Verify that imported tax records contain required information.
To create an export file: 1. Open Event Manager.
2. In the Available Events list, expand Disbursements > Import/Exports, and then select your vendor's export:
- First American ADDS Export - Detailed
- Lereta ADDS Export - Detailed
3. Drag the event to the Scheduled Instances list. The New ADDS Detailed screen appears.
4. From the File Type drop-down list, select one of the following: - ADDS. To request a tax contract only.
- ATSU & ADDS or Tax Set Up & ADDS. To request both automated tax setup information and a tax contract.
- ATSU - No ADDS or Tax Set Up - No ADDS. To request automated tax setup information only.
5. To include pending loans in the export, select the Include Pending check box.
6. Enter other ADDS information as needed, and then click OK. The Schedule ADDS Export - Detailed screen appears.
7. Enter schedule criteria as needed, and then click OK.
To verify that export file contains required loans
1. Open Event Manager.
2. In the Available Events list, expand Disbursements > Reports, and then select the appropriate export report: - Lereta Tax Line Setup Detail Rpt. Lists loans that can be exported to Land America and loans with errors that could not be sent.
- First American ATSU Detail Rpt. Lists loans that can be exported to First American and loans with errors that could not be sent.
3. Drag selected report to the Scheduled Instances list, and then click Run. The system displays a report listing all loans included in the export file.
To import tax records from your vendor:
1. Open Event Manager.
2. In the Available Events list, expand Disbursements > Import/Exports, and then select the vendor you are importing the file from: - First American ATSU Import
- Lereta Tax Line Setup Import
The Specify Import/Export Instance Criteria screen appears.
3. Browse to the import file, and then click OK.
To verify that import file contains required tax record information: 1. Open Event Manager.
2. In the Available Events list, expand Disbursements > Reports, and then select the appropriate import report:
- Lereta Tax Line Setup Import Rpt. Select to review tax records from Land America.
- First American ATSU Import Rpt. Select to review tax records from First American.
3. Click Run. The system imports tax record information for requested loans.
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000050471