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How to add or edit lender details?

This article discusses how to add or edit lender details in lender files.

To add or edit detailed lender information:

    • Click on running Loan Servicing in the left-hand navigation panel of The Mortgage Office®.
    • Click on All Lenders.
    • From the grid, select the record you want to modify.

    TIP: If the record you want to edit is not visible, go to the bottom-right-hand side of the All Lenders screen and use the page-scroll bar to find the record, or click the Find box FindSearch icon box at the top-right-hand side of the screen to search for the record by entering your own search criteria. For additional information see How to Use Find and How to Use the Data Grids.

      • Double-click on the lender or choose the Edit icon edit from the menu choices near the top left of the All Lenders screen.
      • If necessary, click list check 15pxLender on the vertical menu on the left.
      • Click the Details tab. 
      • Add or Edit the following information:
        Field: Description:

        Lender Code

        Enter a lender code. (Maximum of 50 characters)

        TIP: You can enter any type of code that is meaningful to you.

        Counselor

        		 Select the name of the investment counselor associated with this lender. (Maximum of 64 characters)
         
        TIP: To add, rename, merge or delete investment counselor names from the list, click the blue Counselor hyperlink and use the commands to the right. Or you can navigate to Tasks & Reports, click Options & Maintenance, then click List Maintenance: Lender Counselor to open the list maintenance window. Select a name from the list and use the commands to the right. 

        Categories

        Click the Categories hyperlink to select one or more categories from the list.

        TIP: Categories are keywords or small phrases that help you segregate lenders into meaningful groups. When printing statements and reports, you can include or exclude lenders based on their categories.

        TIP: Lenders can be assigned more than one category. You can add, rename or delete categories as needed.

        TIP: To learn more about categories read How to Use the Categories Window.

        Send Check to Payee square-check-solid

         

        Select this option and enter a payee name and address to use when printing checks. If this option isn't checked, the system will use default to using lender's name and mailing address.

        TIP: To send a lender’s checks to a bank or other location, select this option and then complete the Payee data. If the check is being sent to a bank, enter the bank account number here also.

        NOTE: The lender checks provided by ABS allow you to send the check to the payee while still sending the stub to the lender.

        Institutional Lender (CA RE 881) square-check-solid

        Select if this lender is an Institutional lender.

        If the lender is an Institutional lender and you checked the box, choose whether they lend on a square-check-solid Fixed Rate and/or square-check-solid Adjustable Rate loans.

        TIP: This information is used when preparing the CA RE881 (Mortgage Loan Business Activity Report) and applies to California only.

        Accounting System Integration

        		 Select the methodology used when exporting this lender transactions to your accounting system. The following methodologies are supported:
        • Lender Account. Default export for private lenders owning or participating on loan ownership.
        • Broker Account. Select this option if the loans in this lender portfolio are "company" owned.

        TIP: This selection is disabled if you have not selected an Accounting System Integration Provider in the Account Integration section of the Options.. 
        • Click APPLY Apply to save or ban-solid Cancel to abort changes.

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