Setting Up Construction Loan Templates

Setting Up Construction Loan Templates

If you have many loans that share the same characteristics, you can use loan templates to save time when you enter profile information for a loan.
When you select a template on the profile screen, Servicing Director completes all of the fields with the information from the template. You can create a template for any type of loan.

If you set up a template for a HELOC or construction loan, the following is required:
  • If the loan is in the draw period, the payment frequency must be monthly.
  • If the loan is in the draw period, the billing method must be billing.
  • If you are using a template to set up HELOC or construction loans that are still in their draw period, the interest method must be on of the two DSI (daily simple interest) options (daily/actual or daily 360).

To set up a loan template:
  1. Access the Loan Setup application and select options.
  2. Select template in the loan setup screen. The select template screen appears.
  3. Click new. The new template screen appears.
  4. Enter a code to identify this loan template.
  5. Select setup template.
    Note: If the code has not been used, the fields on the screen become available for population.
  6. Enter a description of the template.
  7. Complete the remaining field.
    Note: This information will appear in the fields on the profile screen when you select this template for a loan.
  8. Select Ok to save your changes.

ArticleNumber:

000049461

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