Changing or Setting up a New Payment Clearing Account

Changing or Setting up a New Payment Clearing Account

Investors can set up Multiple Payment Clearing or Disbursement Accounts and use Multiple Payment Accounts to identify the sources of funding for a loan. Transactions are accounted for in the General Ledger.
 

Environment:

Servicing Director
  1. Open Investor Accounting, and then select Investors.
  2. Select an Investor, click Edit, and select the Funds Applied tab.
  3. Click the Additional Bank Assignments button, select the type of Bank Account, and click Edit.
  4. On the Edit Additional Bank Assignment window, select Bank Account name, and click OK.
  5. In Table Setup, select Payment Address Control > Open. The Payment Address Control screen appears. The New button is available if there are Multiple Bank Account Assignments set up for any Investor.
  6. Select New, and then select the appropriate Bank Account name from the drop-down list.
  7. Enter the Payment Account information, including the address, and click OK.
  8. Repeat Steps 7 and 8 as needed to add all additional Payment Clearing Accounts.

     

ArticleNumber:

000051083

    • Related Articles

    • Adding Multiple Payment Clearing or Disbursement Accounts

      Investors can set up multiple payment clearing or disbursement accounts and use multiple payment accounts to identify the sources of funding for a loan. Transactions are accounted for in the general ledger. : First, you must set up the new bank ...

    • Setting up GL Account Assignments

      Follow these steps to setup general ledger (GL) account assignments. The attached tip sheet is provided as a tool to use when setting up the assignments. After you set up general ledger accounts, you can set up general ledger assignments that ...

    • Setting up Payment Rules in Servicing Director

      Different investors have different rules for how payments should be applied to loans. Some investors for example, might require that escrow funds always be applied first or that interest be applied first. The payment rules determine and control how ...

    • Setting a New Account Flag in Superview, Special Account Monitor (SAM).

      Flagging a new account with a SAM alert when you process a new account deposit transaction. Follow these steps to set a new account alert in SAM: Open Superview. Note: Superview access is defined under Security Details, if you do not have access to ...

    • Changing a Service fee

      A incorrect service fee was entered in the loan participation screen. Go to Investor Accounting Module>Loan>enter loan ID that needs to be corrected>service fee>New Enter values, these values must be after the most recent payment. You will then see ...