Servicing Director Payment Transaction Codes that will Automatically Remove/Waive Late Fees when a Payment is Posted with an Effective Date
Transaction code 201 Regular payment
Transaction code 204 Payment with Escrow/Shortage
Transaction code 205 Payment with Interest Adjustment
Automatically reverses a late charge (waive) When a effective date prior to the grace day is being used.
Transaction Code 203 Payment with additional to Principal will not remove a late charge
This is working as designed.
Environment:
Servicing Director Payment Processing Application
ArticleNumber:
000054940