Setting Up Other Funds Records

Setting Up Other Funds Records

You can set up records for items paid from the other funds balance such as optional insurance policy payments.
These types of items can be paid with a loan's other funds balance.
 
To Set up and other funds record
  1. Access the tracking application.
  2. Select Options.
  3. Select Other funds.
  4. Select New.
    Note: The required fields for the New Other funds screen are:
  • Payee
  • Policy number 1
  • Insured
  1. Enter the unique identification number for the vendor in the Payee field.
  2. Enter the Policy Number assigned to this insurance policy by the vendor, in the Policy Number 1 field.
  3. Select the borrower covered by the insurance policy from the Insured drop-down list.
  4. Complete the other fields as needed.
  5. Click Ok.

ArticleNumber:

000050352

    • Related Articles

    • Setting Up States and Regions

      You must set up your state or region records before you can add any loans to your system. When you set up this table, you enter late charges and NSF fee information individually for each state or region. You use the states listed in this table in the ...

    • Modifying Other Funds Records in Servicing Director

      How to change records for items paid from the other funds balance for the selected loan. To Modify Other Funds Records: Open the Tracking application. Click Options > Other Funds. The Select Other Funds window appears. Click Edit. The Edit Other ...

    • Deleting Other Funds

      This procedure deletes other funds records when necessary. Follow the steps below to delete Other Funds Records: Select the Tracking Application. Select Options. Select Other Funds. Select the record. Select Delete. A confirmation message opens. ...

    • Deleting Tracking Records and To Zero Out the Balance in Other Funds Field

      If a user is unable to adjust the other funds balance by going to Customer Service > Options > Other funds > and selecting the + - field, and the field is grayed out, it is because there is still an active optional Insurance policy in tracking. You ...

    • Adjusting Other Funds Balances and Due Dates in Servicing Director

      You can adjust the other funds balance or due date for another funds record. Servicing Director will create and then apply the other funds payment or disbursement to an other funds default record if: An other funds payment or disbursement is not an ...