CRFS REAL WORLD CASE STUDY 2022-03
VA PARTIAL CLAIMS
- Client: Traditional bank mortgage servicer
- Challenge: The VA Partial Claim Payment (VAPCP) is a temporary program that is intended to assist Veteran borrowers impacted by the COVID-19 pandemic to resume making their regular (pre-COVID) mortgage payments after exiting forbearance. The VAPCP program was introduced by the VA in July 2021, and unless extended the program is scheduled to expire in October, 2022. In Q2 2022 the client (who was new to CRFS in 2022) approached CRFS with a significant backlog of VA Partial claims, which was not a claim type that CRFS had previously filed for the client. Client leadership, faced with the prospect of working down significant volume in a claim type that was new to them, was not confident it had adequate available internal resources or expertise to deliver on what had become a time sensitive project due to the impending program deadline. As part of their transition to CRFS, the client engaged company leadership to assist with this critical project.
- Solution: Within 30 days of the initial onboarding of the client, CRFS was able to deploy a team experienced with VA Partial claims to support the project and begin receiving the claim population. As additional clients began soliciting support from CRFS for this claim type and overall volumes escalated, the company’s Innovation Office and IT Team in partnership with a third-party technology vendor finalized and rolled-out an enhanced Claims Management platform that included functionality for the VA Partial claim. This new platform introduced significant operational efficiencies including streamlined and standardized data entry, bulk upload of individual claims to the Valeri system, and the potential to implement quality control audits in bulk which will greatly expedite the QC process. Additionally, CRFS’ access to a national footprint of experienced remote employment candidates allowed it to quickly expand its processing and QC operations to handle the claims management needs of multiple VA Partial claim clients.
- Value Add: The CRFS Client Relations Team was able to expedite the initial onboarding of this new client to facilitate a much quicker-than-usual referral of their VA Partial claim population. Operations leadership then quickly allocated experienced VA claim analysts to accommodate the client’s need to rapidly reduce their backlog and maximize recoveries in advance of looming VA deadlines. Within the first two months of the project CRFS had submitted or was actively working over 200 VA Partial claims for the client with an average recovery per claim several times higher than the cost, with total production capacity currently at 400 claims per month.
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