Loan Electronic Reporting Interface (VALERI), according to a company news release.
Black Knight developed VALERI specifically for the VA and launched the reporting application in 2008. VALERI helps the VA track and monitor more than 2.5 million VA-guaranteed loans, according to Black Knight. VALERI allows servicers to report “significant events” like delinquencies or the completion of loan modifications.
“VALERI has helped us to deliver on our mission to veterans and servicemembers, linking VA with servicers to help ensure veterans receive every possible opportunity to retain their homes, or offer them options to exit homeownership with dignity,” said Michael J. Frueh, director of the VA’s Loan Guaranty Program. “We have used VALERI to help more than 530,000 veterans, active-duty servicemembers and their families since we went live in 2008.”
“We are proud to offer an application that is used to help veterans and servicemembers, and we will continue to invest in our technology that supports the servicing of their loans,” said Jo Nackashi, president of Black Knight’s servicing technologies division. “VALERI delivers a highly efficient solution for servicers to work together with the VA, and provide borrowers with the best options available. We are committed to working with the VA to help reduce costs and simplify servicer interactions.”
The Department of Veterans Affairs has renewed its contract with Black Knight Financial Services to use the company’s