Reference
Servicing Director Event Manager Holiday Scheduling Options
The Event Manager event schedule screen offers three options in the section titled "If Scheduled day is a holiday". The Event Manager has a calendar is a user defined calendar, where you define the non-business days for your Servicing Director ...
Explanation of the Servicing Director Delinquencies Field
This is an explanation of the Servicing Director Delinquencies field, found in the Collections application, Contact screen, Statistics tab. The Delinquencies field displays the number of delinquent payments made each month, January through December ...
As of 16.3 can I still use the Laser Tape Format for Investor Reporting?
Laser Tape export is no longer used for Fannie Mae reporting. It may still be used for Private Investors, or other purposes. Environment: Investor reporting ArticleNumber: 000054969
Servicing Director Last File Maintenance Date
This is an explanation of the Servicing Director Last File Maintenance Date. This field is seen in the Customer Service application, in the Dates screen, displayed as Last Maintenance. It is stored in the Loan table (Loan.LastFileMainDate). The Loan ...
Servicing Director Batch ID Numbers Will Eventually Start Again at 1
The batch ID numbers for the Payment Processing and the Disbursement module currently has a maximum number of 32,767. Once the sequential count of the automatically assigned batch ID numbers reaches 32,767, the Servicing Director will then start ...
Deferred Fee Amortization Report
This report displays loan processed in the deferred fees amortization event. Delivered location: system administration, end of date reports Delivered criteria: AmType, Branch Office, FeeAmAmt, FeeAmThruDate, FeeorCost, GL Plan, InvestorID, RemFeeBal, ...
Default Interest
Default loans calculate and accrue a default interest amount separate from the normal accrued interest amount. This default interest can be calculated on unpaid principal balance, total payment, partial payments, and unpaid principal portion of the ...
Lien Position And Lien Holder Information in Servicing Director
Servicing Director has two locations where lien information is found and stored. The first is in Customer Service > Loan Info window. This is a list field called Lien Position. The data is stored in the Loan table in a field called SecondMtg ...
FHA Disclosure Options
For the option to make a selection in the FHA Disclosure Options Field Customer Service Payoffs FHA Disclosure Options The loan must be setup as an FHA loan in the loan info screen, for the option to be available. Customer Service Loan Info Loan Type ...
Calculating GNMA Advances
On the night of the remittance- Determine if an advance is needed. Note – this is only done on the night of the remittance, for the Investor ID remitting. Remittances for other Investor IDs occurring on other nights are not considered. For each pool ...
How is the Average Daily Balance calculated in Servicing Director for a HELOC loan
Calculating the Average Daily Balance If you want to calculate your own finance charge, you have to know your credit card balance for each day of the billing cycle. While your credit card statement won't list each day's credit card balance, you can ...
Interest Expense Definition
In a pool, two things cause interest expense. The first is interest on curtailments, this is due to a timing issue, and the fact that the curtailment is, in effect, passed through the investor a month later that the way the curtailment is applied to ...
Late Charge Maximum and Minimum Update
You can run this update when changes regarding late charge amounts are made in a particular state and you have existing loans on properties in that state. Since these kinds of changes do not occur on a regular basis, it is not necessary to schedule ...
Overview of Task Tracking
Task Tracking uses task, task rules, projects, and statuses to help users manage workflow in Servicing Director: Tasks: A task is a single unit of work at the loan level, such as Contact borrower or Send letter. A task can be independent (a ...
Payment Rules Setup Screen
Use the Payment Rules Setup screen to add, change, or delete payment rules. To access the Payment Rules Setup , select System Administration > Table Setup > Payment rules. Click Open Payment rules list: Lists all payment rules set up in servicing ...
Construction Loan Trial Balance Report
This report lists construction loans and pertinent information such as the borrower name, interest rate, loan date, maturity date, last draw date, loan amount, available funds, disbursed funds, borrower funds, and holdback amounts. You can also use ...
Fannie Mae Mid Month Cutoff Calculation Explanation
If the 22nd is a business day, the mid-month cutoff date is the 21st. If the 22nd is a holiday or weekend, the 21st will be evaluated to see if it's a business day. If it is a business day, the mid-month cutoff date will be the 20th. If the 21st is a ...
Fannie Mae is Issuing New Requirements for Investor Reporting
The New Fannie Mae Requirements are as follows: Provide active loan reporting multiple times per month, either upon activity, or twice a month on the 22nd and at end of month. Some reporting on the 22nd is required either way. When 22nd falls on a ...
Fannie Mae Mid-Month cutoff Date Shows the 20th Instead of the 21st of the Month
Fannie Mae Mid-month normally happens on the 21st of the month and the file is sent on the 22nd. If the 22nd falls on a Saturday, the report must be sent to Fannie Mae on the 21st of the month. Environment: Investor Accounting ArticleNumber: ...
Credit Reporting on New Loans
When you board a new loan in Servicing Director, there will be no updates to the credit screen. To get to the credit screen: Customer Service application > Payment button > Credit button. The Credit Screen will not update until you run the Credit ...
Collection Letter (1 Payment Due)
The 1 Pmt Due collection letter notifies borrowers that they are past due one payment. This letter is called "1pmtdueltr.doc" and is in the rpt folder where you installed Servicing Director. You can run this letter any time after you run the Payment ...
EZTeller Regulation CC Feature
Click the PDF below to view an overview of the EZTeller Regulation CC feature. ArticleNumber: 000055149
Fannie Mae Mid Month cutoff date shows as the 21st but that is a Sunday
This is Correct. It's not necessary that mid-month cutoff day is a business day. The export will generate on the 22nd of the month. Environment: Investor Accounting ArticleNumber: 000055162
Credit Reporting Balances
Servicing director does not report balances negative or positive. It only reports payments due including fees. ArticleNumber: 000055164
What would cause a loan to show up on my Daily Fannie Mae Lar Export when a payment was not made
If your Fannie Mae reporting is Daily, a reversal will trigger a re-report, or a payment of other fees (as defined by Fannie Mae) Environment: Event Manager ArticleNumber: 000055180
How and Where is Beginning Principal Balance or Outstanding Mortgage Principal Represented in the Servicing Director IRS 1098/1099 Export File
For the reporting year 2016, the Servicing Director IRS 1098/1099 Export file includes a new field, known as the Beginning Principal Balance in Servicing Director, or defined as Outstanding Mortgage Principal in the IRS publications. The Servicing ...
Periodic Billing Statement Explanation of Amount Due box
The Principal and Interest breakdown for the Periodic Billing statements Explanation of Amount Due box Principal Note for all "Regular" payment amounts, these amounts are the amounts due for the Bill Due Date shown on the statement. The Monthly ...
Does Servicing Director Support Straight Line Fee Amortization
Straight Line is used for interest only loans, using the internal rate of return. Interest method must be Interest only. Environment: Servicing Director ArticleNumber: 000055190
Mortgage Insurance at Payoff
Servicing Director functions as follows regarding collection of Mortgage Insurance (MI) premiums at payoff: If the MI due date is more than a month after the payoff date, it collects no MI premiums. If the MI premiums are paid annually, it collects ...
Interest on Escrow Calculations
Servicing Director calculates interest on escrow as follows: Monthly Calculation Method This calculation determines the day of the month on which the accrual is based and then on that day, computes the accrual. If State.IOECalcMethod = "3" (monthly) ...
Servicing Director 2016 Year End Rollover And End Of Year Release 16.3
In order to run the Servicing Director 2016 Year End Rollover on the last day of 2016, you must be on release 16.3. Release 16.3 will be posted for download from the Customer Support web site when the release is available. The Year End Rollover ...
Events that will Update the Next Trans Type in the Customer Service Credit Screen
To navigate to the Next Trans Type drop-down, in a Customer Service Application select Payment Screen > Credit Screen. Here you can find the Next Trans Type drop-down. You can create both a Credit Report Table Event and a Credit Bureau Export. This ...
How Are First Business Day Payoffs for Other (Non-S/S) Reporting Types Handled on Servicing Director 16.3?
There is no change in how the interest due is calculated for other reporting types, Payoffs on the first business day of the month will be calculated as they were on previous versions. Environment: Investor Accounting ArticleNumber: 000055228
Restricting Servicing Director NSF Fees to State Limits
The NSF fee can be changed at the loan level to exceed the restriction placed for the state in Table Setup. A warning message has been added to the Late Info screen and Reverse Payment screen to warn users that the NSF Fee entered exceeds the state ...
What Does The Loan Type Value Represent in The Servicing Director SWBC Insurance Outsource Export
In the Servicing Director SWBC Insurance Outsource Export file, in position 398 of the output file, a single alpha character is exported as Loan Type. What do these Loan Type values of A, B or C represent? A=First Mortgage B=Second Mortgage or Home ...
Interest on Escrow Report
This report summarizes interest amounts accrued for each loan that accrues interest on escrow. Delivered location: System administration>end of day reports File name: Dlyioe.rpt Delivered criteria: ...
Unable to Delete an Online Payment Made the Same Day
When selecting ACH web payments > Edit scheduled payment, the Payment is in a batch, but not posted. You are unable to delete an online payment made the same day. The Delete button is not highlighted for selection and the Edit button is available, ...
What is the Servicing Director Archiver?
The Servicing Director Archiver is an optional feature which automatically creates copies of the letters and reports generated in Servicing Director. Your Servicing Director administrator enables the Archiver option using the System Administration ...
Is the Credit Bureau Report in Metro 2 in a Packed or Unpacked Format?
Servicing Director's credit reporting file is not in a packed format, but rather character format, meaning unpacked, and the segment is 426 characters. Environment: Servicing Director ArticleNumber: 000055270
Periodic Billing Statement Payment Due Date
The Periodic Billing Statements Payment Due Date is not affected by the current payment status of a loan, as it is with the Monthly Billing Statements. When you run the Monthly Billing Statements Update event, it will produce a Statement for a loan's ...
Next page