Underwriter Remittance ProcessAugust 1, 2018
It seems like each underwriter has their own way for you to remit. WFG wants to make the process as easy as possible for you, so we’ve broken it down in four simple steps:
Pull report from system and send
- You can pull an underwriter remittance report from AMS or from your reporting software and email the excel version of the report to firstname.lastname@example.org.
- The report should contain the following categories: file number, policy number, date of policy, state, county, rate code, liability amount, gross premium amount, net premium (underwriter split), line type (Basic, Simultaneous loan, Endorsement, Refinance, Binder) and property type (Residential or Non-Residential).
- These fields are essential to the data report that TDI will request every year.
- Policies should be remitted and paid no later than 60 days after the funding date.
Confirmation email received
- You will receive a response email confirming receipt of the report.
- If you do not receive a confirmation email, please inquire by sending an email to email@example.com or call 877-366-8781 to make sure the report was received.
Report is reviewed and submitted for final processing
- The report will then be reviewed for any discrepancies.
- If there are any questions, potential corrections, or concerns about the report, an email will be sent to you regarding any issues.
- Once these issues are resolved, the report will be submitted for final processing.
- The deadline to turn in reports is four days before the end of the month; however, the earlier it is turned in, the more time is allowed to resolve any issues and process payment to be reflected in the statements.
Payment is processed
- Payment cannot be processed until the report is finalized.
- Statements will be emailed at the beginning of the month for the previous month. (EX: April’s statement will be sent at the beginning of May).
- The statement will reflect the account balance, any payments, and detail what was remitted for that month.