Billing Cycles Supported for HELOC Loans in Servicing Director

Billing Cycles Supported for HELOC Loans in Servicing Director

Servicing Director can calculate and bill for payments that are due monthly on the same day every month. Servicing Director is unable to calculate and/or bill for payment with due dates that vary based on a billing cycle determined by a set number of days. 


ArticleNumber:

000053654

    • Related Articles

    • Interest Methods Supported in Servicing Director.

      The following interest methods are supported in Servicing Director. Arrears—Standard Interest that is applied in arrears pays the interest for the previous month. For example, a payment due on 6/1/99 pays the interest up to 6/1/99 when the payment is ...
    • Can Servicing Director Support Variable Line or Multiple Balance Loans?

      Servicing Director can support single line fixed or adjustable rate HELOC loans. The ability to service HELOCs with multiple balances that are subject to multiple rates is not included. ArticleNumber: 000053803
    • Servicing Director Periodic Billing Statements

      Transaction Activity The following types of transactions are included in the Transaction Activity section on the Periodic Billing Statement (transactions that do not involve payments due or paid by the borrower are not included): Transaction Code ...
    • Servicing Director Repricing Matured Loans

      Users should monitor the Loans Maturity Detail Report for loans that are due for repricing, and then review the Unapplied report that shows a list of all loans with a positive figure in the unapplied balance field. The Unapplied report also shows the ...
    • Servicing Director Supported Interest Accrual Methods

      Servicing Director provides for several different interest accrual methods. Interest Methods are assigned at the loan level. These methods are: Arrears Interest that is applied in arrears pays the interest for the previous month. For example, a ...