Bank Transactions Report

Bank Transactions Report

This report summarizes all deposits, disbursements and transfers by bank account for the current date. Before running this report, confirm that the investor bank accounts and your company's accounts are set up properly. This will ensure the report reflects accurate information.

Tips for interpreting this report:
 
  • For each payment batch, an entry is shown in the account you designated for your collections. If you have interest on escrow payments, however, these will not be shown here; these payments are not received from borrowers. You should be able to balance these entries to reports generated when you balance your payment processing activity.
  • Funds that must be transferred to investor or company banks are summed up and shown as a transfer out of the collection account. They are also shown as transfers into the appropriate investor or company accounts. The total of the Transfer column at the end of the report should be $0.
  • Funds that are transferred into Investor Escrow Accounts include Escrow, Loss Draft, and Unapplied.
  • Funds may be transferred out of company or investor accounts into other accounts. Primarily funds are transferred from investor escrow accounts into the account you designate for disbursements (to pay tax and insurance items). In some cases funds are transferred from company accounts to investor accounts in order to cover advances (such as escrow advances). funds may also be transferred from investor accounts to company accounts to repay advances.
  • Checks to be printed are shown by payee in the disbursement account. If you  have prepared a check manually, the disbursement item also shows the check number.
Delivered location: System Administration, end of day Reports
File name: Dlybank.rpt
Frequency of Running: Anytime after you run the Change Posting Date update and Banking Transactions update

 


Environment:

Servicing Director

ArticleNumber:

000054610

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