Investor Accounting Adding Loans to Loan Transfer Batches

After you set up loan transfer batches on the Batch Setup screen, use the New Participant screen to add loans to loan transfer batches. Loan ownership is transferred when the loan transfer batch is posted.

The New Participant screen displays the information from the Batch Setup screen, eliminating the need to re-enter batch information when you add a loan to a batch. You can change the information on the New Participant screen as needed, but this does not update the Batch Setup screen or any loans that were previously added to the batch. Similarly, if you change information on the Batch Setup screen after you add loans to a loan transfer batch, this does not update any loans that were previously added to the batch. However, when you add a new loan to the batch, the New Participant screen displays the updated information from the Batch Setup screen.

Select the Investor Accounting Application

Select a loan transfer batch from the loan transfer list
Select loan transfer (The Loan Transfer screen appears.).
Select New ( The Choose Loan ID screen appears).
Enter a loan ID,
Select OK. (The New Participant screen appears).
In the investor ID field, enter the investor loan number (the number that the investor assigns to the loan).
In the Prin Bal Inv Share field enter the amount of the principal balance that this investor owns.

Note: If the service fee is calculated as a percent of the principal balance, leave the Service Fee ($) field blank. Use only one service fee field. The default value for the Service Fee % field comes from the Batch Setup screen.

In the Guaranty Fee (%) field, enter the guaranty fee rate that this investor charges for this loan.
In the Date Investor Fund Recvd field, enter the date that the loan was funded. (This is the date that you received the funds from the investor, not the date that the loan transfer was posted.) This field is used in the Investor Cutoff Update and MERS TOB Export events.

Note: Be sure to enter this date; this is the only place where Servicing Director stores this information.

Select OK to save your changes
Repeat this procedure until you are finished adding loans to the loan transfer batch,
Select Close

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000049405