NationalFinancialandAccountingOperations CenterNACS/NASEPresentationST. LOUIS, MO
National Financial andAccounting Operations Center
Mission:The NFAOC serves as a shared service center thatprovidesexceptional customer service, loan accounting,financial, and management information for Federal CreditAgencies.Vision:The NFAOC, as a premier loans receivable sharedservicecenter, will enlist a team of highly skilled employeestoprovide outstanding financial and accounting services,utilizingstate-of-the-art resources to serve as a knowledgebaseand model for all customers and to assist other FederalCreditagencies.The NFAOC web page on the Rural Development intranet is located at:http://teamrd.usda.gov/rd/daom/cfo/nfaoc.html
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Direct Loan Servicing Processing Times
DirectLoan Borrower Adjustment(processing time is 10 business days)FSA1956-1, Application for Settlement of Indebtedness(processing time is 18 business days)FSA2072, Cancellation of US Treasury Check(processing time is 5 business days)FSA 2425, Request to Cancel Undisbursed Loan Funds(processing time is 5 business days)FSA 2429, Request for Change in Application(processing time is 12 business days)FSA 2446, PLAS-GLAS Account Correction(processing time is 18 business days)FSA 2560, Request for Statement ofAccount(processing time is 10 business days)FSA 2576, Notice of Judgement(processing time is 18 business days)Complex Cases(processing time is 30 calendar days)
GENERAL INFORMATIONAnormal workday routine for a direct loan technician in the finance office.Check requestDiscrepanciesECMTOPCross ServicingHoware discrepancies worked?Discrepancies are worked oldest within jurisdiction unless specifically told otherwise by Branch Chief and/or Lead Accountant.Whatare the routine requirements or top priorities each day?Lines and ECM items unless otherwise specified by the branch chief and/or lead accountant.Completion Letters?To assure receipt of completion letters please be sure to provide the full name of the contact person.Can NRRS 2429, Change in Application of Payments be sent through ECM?
Is the first line of correspondence always a faxed submission to ECM?Yes, all initial requests should come throughECMWhatis the best way to make inquiries or offer additional information on an ongoing problem case?If you have anything to add or new information on a problem case, it is best to call and/or email the technician. On all email inquiries, please cc myself, Cindy Haas ([email protected]) and my Lead Accountants, Sharon Maull([email protected]) and Shantaye Gladney ([email protected]). Our numbers are 314-457-4121 (Cindy Haas), 314-457-4146 (Sharon Maull) and 314-679-6716 (Shantaye Gladney).Howdo email and telephone inquiries fit in with this, and how do we avoid creating duplicate ECM submissions if we do need to make an inquiry on something that has already been submitted?Again, all secondary inquiries should be made by email.Doyou encourage the personal contact, or is this supposed to be strictly an electronic process?I prefer the technician be given their allotted timeframe for completion of each item. If no response or contact from them, then please follow up with a call and/or email.
Fedwire vs ACH
COSTACH.30 per disbursementWIRE$35 per disbursementLabor IntensiveACHAutomated requires 1C via DLSManual requires 1 hour for both FaSB and CMDB to process the requestWIRERequires 1 1/2 hours for both FaSB and CMDB to process the requestNot all banking institutions acceptFedwiresSecurity of DataNo difference between ACH and that of a WIREAbility return/reverseInstructions can be found in the Treasury Financial Manual, Chapter 7500http://tfm.fiscal.treasury.gov/v1/p5/c750.pdf
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