The purpose of this procedure is to provide the steps required to process a payoff in Servicing Director for customers using the Ultradata real time interface.
The following steps should be followed in order to process payoffs in Servicing Director and have the funds flow property in Ultradata:
1) Open the loan in Servicing Director – Customer Service. Click the Payoffs button.
2) Enter the Payoff Date and click on Calculate.
3) Enter or modify the Release Fee amount, if necessary.
4) Click on Address. Select the Print checkbox and click on Send.
5) Click OK on the Payoff Addressee screen.
6) Click Close on the Payoff screen.
7) In FSP, post the amount needed the payoff the loan (Payoff Total from the payoff quote) using transaction code 260 – Unapplied Payment.
8) Go back to Servicing Director – Customer Service. Click on the Payoffs button.
9) Repeat steps 2 – 6, verifying that the unapplied amount is being credited, resulting in a $0.00 Payoff Total.
10) Open Payment Processing. Click New to create a new batch.
11) Enter the batch description (suggest using the loan number) and click OK.
12) Click on the Payoffs button. The loan number should default to the loan number you are working on. If not, enter the correct loan number.
13) Verify that the Payoff Total is $0.00 and click OK.
14) Click on Post Batch and click Yes to post the batch. The batch should post successfully. The process is complete.
ArticleNumber:
000046425