New SG PCR Requirement - REO Property Preservation Forum
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post #1 of 27 (permalink) Old 10-21-2013, 10:53 PM Thread Starter
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New SG PCR Requirement

Have to fill out a 10 page PCR or risk a penalty? Details below:

  • All vendors must use the PCR for every Initial Secure and Convey order issued, beginning on that region's implementation date, regardless of loan type, client, or sale date, until further notice. The only exclusions to this requirement are when the property is occupied, conveyed, sold, or SACC denial is provided
  • All applicable sections of the form must be completed in a legible manner
  • Scanned copies of all 10 pages are required. Incomplete or partial submissions are unacceptable and will be considered non-compliant. If additional pages are needed to adequately document, bid, or otherwise address specific situations, they should be scanned and uploaded in addition to the 10 required pages
  • It is the vendors' responsibility to assure there are no discrepancies between the PCR and the update provided on Vendor Web. If a discrepancy is found between the PCR and the Vendor Web update, the update data will be used. Conditions noted on the PCR but omitted from the update are considered undocumented and subject to applicable consequences
  • Specific sections addressed on the form, but not yet listed on Vendor Web should be submitted as misc. items in the update
  • Field QC will audit all submissions and non-compliance will be considered a serious deficiency during review
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post #2 of 27 (permalink) Old 10-21-2013, 10:56 PM Thread Starter
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More....


Starting October 21, 2013, if a Property Condition Report is not completed and submitted with the update

on vendor web, there could be a financial penalty per occurrence. This order may be reopened,

potentially with another vendor, and chargeback any additional costs above and beyond the penalty for

noncompliance.

Additional PCR Information

 All vendors must use the PCR for every Initial Secure and Convey order issued, regardless of

loan type, client, or sale date, until further notice. The only exclusions to this requirement are

when the property is occupied, conveyed, sold, or SACC denial is provided

 All applicable sections of the form must be completed in a legible manner

 Scanned copies of all 10 pages are required. Incomplete or partial submissions are unacceptable

and will be considered non-compliant. If additional pages are needed to adequately document,

bid, or otherwise address specific situations, they should be scanned and uploaded in addition to

the 10 required pages

 It is the vendors' responsibility to assure there are no discrepancies between the PCR and the

update provided on Vendor Web. If a discrepancy is found between the PCR and the Vendor

Web update, the update data will be used.

 Conditions noted on the PCR but omitted from the update are considered undocumented and

subject to applicable consequences Specific sections addressed on the form, but not yet listed on

Vendor Web should be submitted as misc. items in the update
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post #3 of 27 (permalink) Old 10-21-2013, 11:02 PM
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Keep working for them folks. They just keep piling the [email protected]*T on you and you folks keep accepting it.
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post #4 of 27 (permalink) Old 10-21-2013, 11:55 PM
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The PCR is easy to use, but it takes a lot of paper. We print it out so its double sided. The PCR is mainly a guide for my updaters when they input work orders. We make sure VW and the PCR match. All in all, it's an extra 10 minutes tops. Maybe you're just catching up, because this PCR memo was sent out in June (Memo 1430). We'll do the PCR because its a condition that needs to be met to be paid and frankly, it's an asset when used properly.

Last edited by Irnhrse5; 10-22-2013 at 12:05 AM. Reason: Added month PCR memo was sent out
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post #5 of 27 (permalink) Old 10-22-2013, 01:04 AM
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dinosaur technology......
We bill $75 for that....
please tell me that is not an add-on to existing fees....

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post #6 of 27 (permalink) Old 10-22-2013, 10:01 AM
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We end up charging a lot more from the bid approvals we get from both our crews writing out all damages properly and the updaters inputting all damages properly from filling out a pcr like this.
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post #7 of 27 (permalink) Old 10-22-2013, 02:33 PM
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This is not new, the requirement started in June. I was told we could complete the PCR as a Word document and upload to vendor web .... I am not interested in printing, filling out then scanning 10 pages for every initial secure or convey order!
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post #8 of 27 (permalink) Old 10-22-2013, 03:02 PM
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Quote:
Originally Posted by ontimepres View Post
This is not new, the requirement started in June. I was told we could complete the PCR as a Word document and upload to vendor web .... I am not interested in printing, filling out then scanning 10 pages for every initial secure or convey order!
Kind of defeats the benefit/point of filling it out while at property though. People always miss stuff if they wait until later to fill it out. Imho everyone should always be filling something out like this at an initial secure. Hard to get everyone to do them I know but they are financially beneficial
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post #9 of 27 (permalink) Old 10-22-2013, 03:42 PM
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Quote:
Originally Posted by SwiftRes View Post
Kind of defeats the benefit/point of filling it out while at property though. People always miss stuff if they wait until later to fill it out. Imho everyone should always be filling something out like this at an initial secure. Hard to get everyone to do them I know but they are financially beneficial
Actually this should be done by all PP Contractors...we provide one and we have none of the following;
No Back charges in 8 years
No debris count controversies in 8 years
No BATF issues...we don't do them as our procedure eliminates them
Completion times are faster as everything is approved PRIOR to services being started for completion
Payment approvals on invoices are also quicker....there is no 7-10 day debate as to what we did or did not do....
EVERYTHING is approved prior to us returning to the property to start services.....
This is something everyone can get on the same page about....it is just a matter of everyone doing it....

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post #10 of 27 (permalink) Old 10-22-2013, 08:25 PM
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Pnp workers have to do this, REO side doesnt. I believe the inspector said its a $250 charge back/fine to the pnp guys for EACH property they dont do it correctly at.
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