How to add or edit general lender information?

Field:

Description:

Full Name

Enter the lender's full name. The first time the Full Name is entered, it is parsed and used, if possible, to auto-populate the First Name, MI and Last Name fields. (Maximum of 64 characters)

TIP: The Full Name can represent the name of a legal entity, while the First Name, MI and Last Name can be the name of a natural person.

Salutation

Enter a salutation field. (Maximum of 50 characters)

First Name

Enter lender's first name. (Maximum of 30 characters)

MI

Enter lender's middle initial. (Maximum of 1 character)

Last Name

Enter lender's last name. (Maximum of 30 characters)

Street

Enter lender's mailing street address. (Maximum of 64 characters)

City

Enter lender's city. (Maximum of 50 characters)

State

Select lender's state from the drop-down list.

Zip Code

Enter lender's zip code. (Maximum of 10 characters)

TIP: When a zip code is entered, it is matched against a database of U.S. and Canadian postal codes containing in excess of 850,000 records, and if a match is found, the city, state and county are automatically updated.

TIP: The Locale selection found in Regional User Preferences on the Options page determines whether U.S. or Canadian values are returned.

Preferred City Name: There are approximately 43,000 U.S. ZIP Codes as issued by the US Postal Service.  Although there are 43,000 unique ZIP Codes, there are more city and town names than there are ZIP Codes. Actually, it is not unheard of to have 10 different city or town names for a single ZIP Code.

However, even though the USPS permits more than one city name for a single ZIP Code, they do have a preference; and that preference is referred to as a Preferred City.

The Mortgage Office® always returns the Preferred City name.

Email

Enter lender's email address. (Maximum of 255 characters)

TIP: You may enter multiple email addresses by separating each with a semicolon. When sending documents via email (such as statements), The Mortgage Office® will generate a separate email with the appropriate attachment to each email address in the field.

Format

Select an e-mail delivery format from the drop-down list. Available options are HTML or Plain Text.

Delivery

Select a delivery option from the drop-down list. Available options are Print, E-mail or SMS.

TIP: Notices and Statements that are email-enabled, will use this option to determine each lender's preference. You can override this preference at time of producing the documents. For example, even if many lenders have elected to receive their statements via electronic mail, you may want to print and send the year-end statements via regular U.S. mail.

Phone Numbers

Enter lender's Home, Work, Mobile and Fax phone numbers. (Maximum of 20 characters)

TIP: The phone number will be automatically formatted if you enter numeric digits only. For example, typing 5624262188 is automatically converted to (562) 426-2188.

Account

Enter a unique account number for this lender. (Maximum of 10 alpha-numeric characters including "-" and ".")

TIN

Enter lender's tax identification number. (Maximum of 11 characters)

TIN Type

Select from one of the following codes to identify the recipient type used for tax reporting:

U.S.A.:

• EIN. Employer identification number.
• SSN. Social security number.

WARNING: ACH Detail Record Type. The TIN Type field affects the type of ACH detail record created when using ACH Express. If the TIN Type is EIN, a CCD detail record is created. If the TIN Type is SSN, then a PPD detail record is created. Read the ACH FAQ & Glossary for more information.

Canada:

• 1 - for an individual.
• 2 - for a joint account (two or more individuals).
• 3 - for a corporation.
• 4 - for an association, trust (RRSP trustee, fiduciary-trustee, nominee, or estate), club, or partnership.
• 5 - for a government, government enterprise, or international organization.

Alternate Tax Info

Click on the Alternate Tax Info hyperlink to open the Tax Payer Information window and enter information used to prepare the IRS Form 1099.

TIPS: Select the  Auto-Synchronize option to use the information entered in the General tab of the Lender file; otherwise, uncheck the selection and type the correct information in the form.

For example: you have a lender who is using her married name on your loan files but her social security records still show her maiden name. In this case, create a Tax Payer Information record using her maiden name.

NOTE: You only need to create a Tax Payer Information record if the lender's information is different than what should be reported to the IRS.

Notices & Forms

The options under this section are used to prevent certain notices and forms from printing:

Tax Reporting

Select this option to send a Form 1099-INT to the lender.

Birthday

Enter the lender's birth date.