INV_Milestone Billing

Milestone Billing

When attorneys submit invoices for fees, guidelines define the maximum allowable amount they can bill. These guidelines are based on:

the type of service completed by the attorney.
the contract between the servicer and vendor.
legal considerations, such as the state the attorney does business in, the type of loan, and whether it is a judicial or non-judicial process.

These guidelines help determine the maximum allowable fee amount. A percentage of this amount is calculated according to the events completed in the process by the attorney. This percentage is the maximum amount the attorney can bill at this point and immediately appears to the attorney during invoice creation. The Milestone Event Matrix indicates these maximums when the user clicks the View All Events link on the Invoice Editor.

You can submit invoices that exceed the maximum allowable amount, but InvoicingSM flags these invoices with an exception. As a result, an attorney must provide an explanation for the overage as a line item note, which is visible to the servicer.

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