A new policy, TRST:EDIT ACCT INFO, can now be set to block bank account editing by a user or a group. To enable the policy, go to Group Security Maintenance [4-1-S-3], and add TRST:EDIT ACCT INFO to all applicable users. The policy must be set to “N” to block editing access. Note: This will not affect user settings for switching bank accounts. If a user currently has access to switch a bank account they will continue to have that access.
For Resurgent Capital Services interface users: The last letter date in the Resurgent SUF file has been changed to export based on the Resurgent Matrix [4-2-1-6-1-X]. Matrix code DDOC will need to be set up in the Resurgent matrix for all Paperless File codes that need to export last letter date. With F010, the programming will be in effect and the last consumer date in the WOR record will be populated based on matrix configuration of the DDOC Action Code. A communication was sent on January 28, 2021, informing you of this change to allow you time to prepare your matrix. This [...]
Transaction Reversal Interest Change in 9.1F.010 What is the interest change? In version 9.1F.010, transaction reversals will now fully restore interest. How were transaction reversals previously functioning? Before version 9.1F.010, transaction reversals did not restore interest that should have accrued on the payment amount being reversed. The amount the interest was off was always in the consumer’s favor and usually a nominal amount. What does this change mean? The amount of interest that would have accrued on the claim and attributed to the reversed transaction from the original date of posting will be fully restored. How will I know [...]
Don’t forget to submit your remittance reports to vExchange! The CMvX remittance reports are separate from the daily CMvX export file. They are created as remittances, and are run and saved in CLSINC\EDI_FILES. To identify your CMvX remittance reports, simply look for a naming convention starting with CMVX and ending in .RMT, e.g., CMVX0009_20210127160628.RMT. The remittance reports need to be uploaded to vExchange the same way that the daily export files are uploaded.
We have been made aware the You’ve Got Claims Analytics and Reporting is currently behind due to an issue with the nightly import process. This did not affect yesterday’s mailman deliveries, only analytics and reporting 2/25 data. Our team is currently reprocessing; we expect the data analytics and reporting to be complete and current by tomorrow morning.
Resurgent Capital Services (RCS) has requested a change to the WOR record in the Servicer Update File (SUF) file. In a future update of Collection-Master, the WOR will report the last consumer document date instead of the last document date. The WOR record had not been changed yet to allow RCS servicing firms time to configure their matrix to identify consumer documents. As of 9.1F.004, the RCS Matrix has been enhanced with a new action code DDOC for Consumer Documents. Setup is required to identify all consumer documents and specify them in the Resurgent Capital Matrix with action DDOC. [...]
Have you recently upgraded Collection-Master and want to find out about all the new features? John Currey, Vertican’s Senior Vice President of Technical Services, explains them in his vSquare presentation, "What's New in Collection-Master?". Some of the topics covered: CM-EDI Auto Post All Flavors Payments on Linked Claims Write-Off Buckets Claim Security Other Goodies The video is available now on the Vertican Technologies Vimeo channel free of charge. View Now
We recently sent you an email explaining why Vertican has invested in the comprehensive client relationship management (CRM) platform, Apptivo. This will change the way we track new incidents, so please carefully review the following information. What does this mean when submitting emails to Client Services? When an email is received, it will automatically create an incident in Apptivo and the sender will receive an automated response including the Case Number. This will be represented by a number, such as 123. There will also be a secondary key that will resemble something similar to #A-CS-2658665. This number is required for the automation in Apptivo to [...]
In Collection-Master version 9.1E.004, released on Wednesday, November 11, 2020, as well as in 9.1E.005 (a special release for firms doing Citibank work) released on Friday, November 13, 2020, we inadvertently included the enhanced Discover Inbound Plus programming. Discover originally asked for the change to the export file in June, as they intend to test the changes with two pilot firms prior to moving ahead with all firms. That testing with the pilot firms is happening soon. The rest of the firms should continue to report the Inbound Plus File as usual. If you are running 9.1E.004 or 9.1005, [...]
Based on communication from the Project Manager at Citibank, we have completed the following necessary changes in Collection-Master: Citibank Placements New fields from IBS/FDR supplemental files (Pre-charge off Agencies only) For some fields previously received in the supplemental files, you will now receive them in the Vendor Placement and Maintenance files from Citi. New Debt Settlement Agency contact fields New miscellaneous fields Movement of some data from Co-Maker 10 Record to Extra Details Record Addition of the X01 record to the Vendor Placement file Citibank Outbound (to firm) Maintenance 1 line removed due to change in field code (new [...]