Circulation Option

Description

Allow Auto Adjust to $0

Enables the invoice total amount to be auto adjusted down to $0.00.

When this option is selected, InvoicingSM allows for the invoice total amount to be auto adjusted down to $0.00. When the check box is cleared, the current auto adjust functionality does not execute the auto adjust business rules if the adjustment of the line item(s) will cause the invoice total amount to be adjusted to $0 dollars.

Auto Approval

Enables automatic approval of an invoice after a vendor accepts your last line item adjustment and there are no exceptions.

Zero amount invoices that are auto-approved are excluded from the check request process.

Auto Curtail

Enables a nightly process that looks for all invoices with open adjustments, takes the most recently updated adjustment date per invoice, and compares it to a curtailment threshold setting defined in the Auto Curtail Department or Default Curtail Adjust Threshold fields.

If the number of days since last update is equal to or greater than the threshold, then all open adjustments on the invoice are approved automatically. If the number of days since last update is less than the threshold, then the invoice is skipped.

Auto Curtail Departments

Enables auto curtail by REO status or department.

Type the number of days until curtailment for each of the departments you want to configure. If the fields are left blank, the Default Curtail Adjust Threshold will be used.

Auto Deny Explanation Resolutions

Enables automatic denial of an invoice when a vendor does not respond to an explanation resolution within the designated number of days.

Auto Deny Release Resolutions

Enables automatic denial of an invoice when a vendor does not respond to a release resolution within the designated number of days.

Default Curtail Adjust/Resolution Threshold

Enables users to type the number of days the system should follow as the threshold when a department is not defined.

When the default curtail adjust/resolution threshold value is changed, the system does not recalculate a new curtailment date for existing curtailed records. The new value applies to new curtailments only.

Instant Auto Approval

Enables automatic approval of an invoice directly after the vendor submits it if there are no exceptions.

With this option, you do not have the ability to review line items on the invoice. Zero amount invoices that are auto-approved are excluded from the check request process.

Outsourcer Instant Auto Approval

Enables automatic approval of an invoice directly after an outsourcer handling the loan on behalf of the servicer approves the invoice.

Zero amount invoices that are auto-approved are excluded from the check request process.

Override Default Adjust/Resolution Threshold

Enables invoice-level override of the default curtailment threshold.

With this option, an invoice processor can select the number of days by which to override the curtailment date.

Vendor Adjusted Denied Response

Enables vendors to respond to adjusted/denied invoices within the designated number of days.

With this option, vendors have the ability to indicate whether they will rebill, write off, or dispute the adjustment or denial.