Line Items

Line items are added to an invoice created on behalf of a miscellaneous vendor. They are added using the Invoice Search screen and are those individual items that make up the total amounts owed to the REO broker for services rendered. There is no system-imposed limit to the number of line items that can be added to an invoice. However, if set up by the servicer, the system keeps track of duplicate line items already submitted on any invoice for the loan. Line item information includes the following:

• Category: Allows you to select the fee or cost category that drives the sub-category selection. Client Support can add, edit, enable/disable, and report on categories and subcategories.
• Sub-Category: Sub-categories are driven by the category. When the sub-category is entered, the system will prompt for extended information such as a cost breakdown and comment if needed. Client Support consultant can add, edit, enable/disable and report on categories and subcategories.
• Date: The date is a required field. You must enter a date for both fee and cost line items. Line item dates cannot be later than the invoice date.
• Qty and Unit Price: Depending on the invoice type, the quantity and amount are recorded. If the servicer uses Milestone Billing, it calculates whether the vendor is attempting to exceed the allowable amount for the service. If so, the system automatically prompts the vendor for an explanation and marks the line item with an exception.