A new content section containing information regarding Recoverable Corporate Advance has been added to KnowledgeOwl.
Recoverable Corporate Advance (RECO) is a fee paid by the servicer which will then seek reimbursement of the fee prior to the payoff of the loan. RECO fees are displayed on the monthly billing statement.
This content will assist in explaining these fee amounts to customers by viewing the following MSP screens:
Click Here to view this content or type “Corporate Advance” in the KnowledgeOwl search bar. Please contact your team lead or manager if you have any questions.