1 / 37

Dwight Vigna Education Department

Dwight Vigna Education Department. FSA Default Division Goals. Goal 1: Be respectful to our borrowers and find the best solution that will resolve the borrower’s debt regardless of the commission being paid

garvey
Download Presentation

Dwight Vigna Education Department

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. Dwight VignaEducation Department 2013 Knowledge Symposium November 5-7, 2013 ● St. Pete, Florida

  2. FSA Default Division Goals 2013 Knowledge Symposium November 5-7, 2013 ● St. Pete, Florida Goal 1: Be respectful to our borrowers and find the best solution that will resolve the borrower’s debt regardless of the commission being paid Goal 2: Increase the FSA overall collection rate on a year to year basis even though the inventory is also increasing annually

  3. Collection Performance 2013 Knowledge Symposium November 5-7, 2013 ● St. Pete, Florida

  4. Default Recoveries- In Billions 2013 Knowledge Symposium November 5-7, 2013 ● St. Pete, Florida Combined ED FY13 - $18.2 $8.51 FY12 - $13.1 $3.68 FY11 - $12.0 $3.40 FY10 - $10.2 $3.04 FY09 - $8.8 $3.07 FY08 - $8.9 $3.21 FY07 - $6.9 $2.67

  5. FY13 Top Ten By Recovery Rate 2013 Knowledge Symposium November 5-7, 2013 ● St. Pete, Florida

  6. FY13 Top Ten by Recovery Rate w/o Consols 2013 Knowledge Symposium November 5-7, 2013 ● St. Pete, Florida

  7. FY13 Recovery Rate By Portfolio 2013 Knowledge Symposium November 5-7, 2013 ● St. Pete, Florida

  8. Regular FY13 FY12 GA $759,645,000 $754,654,568 ED $562,750,765 $539,983,209 Totals $1,322,395,765 $1,294,637,777 2013 Knowledge Symposium November 5-7, 2013 ● St. Pete, Florida

  9. TOP FY13 FY12 GA $848,556,209 $990,651,634 ED $1,331,685,591 $555,242,177 Totals $2,180,241,800 $1,545,893,811 2013 Knowledge Symposium November 5-7, 2013 ● St. Pete, Florida

  10. Rehabilitations FY13 FY12 GA $4,736,266,045 $4,400,196,618 ED $5,758,179,306 $1,761,800,453 Totals $10,494,445,351 $6,161,997,071 2013 Knowledge Symposium November 5-7, 2013 ● St. Pete, Florida

  11. AWG FY13 FY12 GA $655,890,260 $668,323,580 ED $291,422,130 $345,010,734 Totals $947,312,390 $1,013,334,314 2013 Knowledge Symposium November 5-7, 2013 ● St. Pete, Florida

  12. Direct Consolidations FY13 FY12 GA $2,711,129,883 $2,584,213,293 ED $567,475,161 $474,247,061 Totals $3,278,605,045 $3,058,460,354 2013 Knowledge Symposium November 5-7, 2013 ● St. Pete, Florida

  13. FY13 GA Consolidations Highest percentage was 41.31% Lowest percentage was 14.76% Consolidations Total Collections % of Total $2,711,129,883 $9,711,487,398 27.92% 2013 Knowledge Symposium November 5-7, 2013 ● St. Pete, Florida

  14. FY13 Top Ten Consolidators 2013 Knowledge Symposium November 5-7, 2013 ● St. Pete, Florida

  15. PCA Collection Performance 2013 Knowledge Symposium November 5-7, 2013 ● St. Pete, Florida

  16. Collection Performance CPCS #5-11 Avg. - Unrestricted 2013 Knowledge Symposium November 5-7, 2013 ● St. Pete, Florida

  17. Collection Performance Quarterly CPCS #5-11Avg. – Small Business 2013 Knowledge Symposium November 5-7, 2013 ● St. Pete, Florida

  18. Default PortfolioProjections 2013 Knowledge Symposium November 5-7, 2013 ● St. Pete, Florida

  19. Portfolio Characteristics September 2013 • Size: $55,886,286,405 2013 Knowledge Symposium November 5-7, 2013 ● St. Pete, Florida

  20. Collections 3-Year Forecast 2013 Knowledge Symposium November 5-7, 2013 ● St. Pete, Florida

  21. TOP Processing 2013 Knowledge Symposium November 5-7, 2013 ● St. Pete, Florida

  22. The New Faces of TOP Tia Fails Cindy Hill 2013 Knowledge Symposium November 5-7, 2013 ● St. Pete, Florida

  23. Treasury Offset Program 2013 Knowledge Symposium November 5-7, 2013 ● St. Pete, Florida PY2013 P&I Certified GA $23,361,109,809 ED $29,810,814,083 Total $53,171,923,892 • ED Collections - $1,331,685,591 • GA Collections - $ 848,556,209 • Total - $2,180,241,800

  24. Treasury Offset Program 2013 Knowledge Symposium November 5-7, 2013 ● St. Pete, Florida Certification processing is on schedule Cindy sent the Action Code e-mail GA Certification files are due 11/4 -11/8 Inactivation file will be processed on 11/20/2013 Certification files are sent to Treasury on 12/9/2013

  25. The New Face for Mandatory Assignment Jane Bryson 2013 Knowledge Symposium November 5-7, 2013 ● St. Pete, Florida

  26. IRS Skip Tracing Update We have a signed CMA We have to make system changes in order to use the CMA There will be audits from the IRS on this process New Training must be done for all staff that includes IRS FTI (Federal Tax Information) requirements 2013 Knowledge Symposium November 5-7, 2013 ● St. Pete, Florida

  27. IRS Skip Tracing Update Neither ED nor its Contractors (PCA or GA) may redisclose the IRS Address unless legal parameters in the Internal Revenue Code (IRC) (section 6103) are followed, which are in addition to those required by the Privacy Act! 2013 Knowledge Symposium November 5-7, 2013 ● St. Pete, Florida

  28. IRS Skip Tracing Update Independent verification Written procedures are completed Legally insufficient Legally sufficient First Party Request Requestor must submit credentials proving they are asking for their own records 2013 Knowledge Symposium November 5-7, 2013 ● St. Pete, Florida

  29. IRS Skip Tracing Update Third Party Request with Consent Must use IRS Form 8821 Signature must be within 120 days of current date First and Third Party Request with consent Original request must be maintained for 3 years 2013 Knowledge Symposium November 5-7, 2013 ● St. Pete, Florida

  30. IRS Skip Tracing Update Third Party Request Without Consent Must use IRS Form 8821 Personnel withholding request must provide ED’s OGC copies of request and the decision to withhold within 1-3 business days If Requestor persists, ED/PCA/GA must notify ED’s OGC within 1-3 business days of continued demand 2013 Knowledge Symposium November 5-7, 2013 ● St. Pete, Florida

  31. New Contracts 2013 Knowledge Symposium November 5-7, 2013 ● St. Pete, Florida

  32. DMCS O&M Contract 2013 Knowledge Symposium November 5-7, 2013 ● St. Pete, Florida Awarded on 9/30/2013 to Maximus Federal Services, Inc. Stop Work Order Issued on 10/01/2013 Start Work Order Issued on 10/17/2013 10 Year contract with a base period of 2 years and 8, 1-year options

  33. DMCS O&M Contract 2013 Knowledge Symposium November 5-7, 2013 ● St. Pete, Florida Maximus has been around for 40 years They are using IBM, FICO and Omni Systems for development Exeter is being used for financial reconciliation Xerox is being used for data center and back-end processing

  34. DMCS O&M Contract 2013 Knowledge Symposium November 5-7, 2013 ● St. Pete, Florida The Xerox contract was given an extension for 6 months, June 30 2014 The transition planning has already begun The current date for the transition is March 1, 2014

  35. DMCS O&M Contract 2013 Knowledge Symposium November 5-7, 2013 ● St. Pete, Florida • How does this affect the GAs? • No changes today • There will be a transition of the data center at some future point

  36. PCA Contracts 2013 Knowledge Symposium November 5-7, 2013 ● St. Pete, Florida Procurement is currently going on for the Small Business pool and the Unrestricted Business pool The proposed time frame for Awards is January 2014

  37. Questions? 2013 Knowledge Symposium November 5-7, 2013 ● St. Pete, Florida

More Related