You may at any time, and as often as needed, calculate and print an account closing statement for a line of credit. Unlike the billing statement, the closing statement can be printed for a closing date of your choosing and finance charges and fees will be calculated accordingly.
TIP: Provide a more professional looking statements by incorporating your company's logo. To learn how click here.
TIP: We suggest pre-printing Your Billing Rights in the reverse side of the billing statement.
The account closing statement can be generated from the Lines of Credit Grid or from Tasks & Reports.
To print the Account Closing Statement from the grid:
- Click on the
Loan Servicing drop-down menu in the left panel of The Mortgage Office®.
- Click the Loans drop-down menu.
- Click Lines of Credit from the list that drops down.
- From the Lines of Credit grid, select the loan you want to modify.
TIP: If the record you want to edit is not visible, use the grid's vertical scroll bar to scroll the contents of the grid up or down, or click 
Find 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.
- Click
Print and from the drop-down, choose Print Account Closing Statement. - Enter the Payoff Date.
TIP: Finance charges will accrue to this date. Enter here the date you expect to receive the borrower’s payment. The statement will calculate and instruct the borrower to pay an additional per-diem finance charge for each day past the closing date (up to the notice expiration date).
- Enter the Notice Expires date.
TIP: The notice expiration date initially defaults to the closing date plus the number of days entered in Notice Expire After field found in the Payoff tab of the Notices page in the Loan Servicing Options. This date moves in unison with changes made to the closing date; therefore, if you want a notice expiration date which differs from the preset values, you must first enter the closing date, and then enter the desired notice expiration date.
- The Early Closure Fee is calculated and distributed based on the parameters located in the Penalties tab in the Terms page of the loan file.
- Other Fees. To enter additional fees (or credits) click the New hyperlink. A dialog window will open allowing you to enter a description and an amount. You may also use the Edit or Delete hyperlinks to make changes. All changes made here are immediately applied to the Calculation Details section and reflected in the Total Amount Due.
- Click
Next. 
Create Attachments. Check this box if you want to attach the Closing Statement to the loan file attachments. - Click Print Statement to open a print preview window.
TIP: To know more about how to use the print preview window, click here.
- Click E-mail Statement to email the statement.
- Click Edit Message to edit the message that is sent to the borrower.
- Click
to Apply to post finance charges, other fees, and charges to the loan file or click Cancel to exit.
TIP: The system will prevent you from applying the Account Closing Statement if one already exists for this loan. The prior closing statement must be deleted before you can apply a new closing statement.
To print the Account Closing Statement from Tasks & Reports:
- Click on Loan Servicing in the left panel of The Mortgage Office®.
- Click Tasks & Reports from the menu located on the left of the window.
- Click Account Closing Statement under Line of Credit / HELOC section.
- Enter the loan Account number.
TIP: Click 
to open a lookup window that allows you to select a borrower from a list of existing records. For more details see How to use lookup windows.
- Enter the Payoff Date.
TIP: Finance charges will accrue to this date. Enter here the date you expect to receive the borrower’s payment. The statement will calculate and instruct the borrower to pay an additional per-diem finance charge for each day past the closing date (up to the notice expiration date).
- Enter the Notice Expires date.
TIP: The notice expiration date initially defaults to the closing date plus the number of days entered in Notice Expire After field found in the Payoff tab of the Notices page in the Loan Servicing Options.. This date moves in unison with changes made to the closing date; therefore, if you want a notice expiration date which differs from the preset values, you must first enter the closing date, and then enter the desired notice expiration date.
- The Early Closure Fee is calculated and distributed based on the parameters located in the Penalties tab in the Terms page of the loan file.
- Other Fees. To enter additional fees (or credits) click the New hyperlink. A dialog window will open allowing you to enter a description and an amount. You may also use the Edit or Delete hyperlinks to make changes. All changes made here are immediately applied to the Calculation Details section and reflected in the Total Amount Due.
- Click Next.
- Create Attachments. Check this box if you want to attach the Closing Statement to the loan file attachments.
- Click Print Statement to open a print preview window.
TIP: To know more about how to use the print preview window, click here.
- Click E-mail Statement to email the statement.
- Click Edit Message to edit the message that is sent to the borrower.
- Click to Apply to post finance charges, other fees, and charges to the loan file or click Cancel to exit.
TIP: The system will prevent you from applying the Account Closing Statement if one already exists for this loan. The prior closing statement must be deleted before you can apply a new closing statement.
To delete the Account Closing Statement, follow these steps:
- Click on Loan Servicing in the left panel of The Mortgage Office®.
- Click Lines of Credit below All Loans from the menu located on the left of the window.
- From the grid, select the record you want to modify.
TIP: If the record you want to edit is not visible, use the grid's vertical scroll bar to scroll the contents of the grid up or down, or click 
Find to search for the loan by entering your own search criteria. For additional information see How to use find and How to use the data grids.
- Click
from the options available on top panel or double-click on the record to open it for editing. - Click
History from the list located on the left of the window. - From the grid, select the billing record you want to delete. It should be the last record on the list.
- Click
to delete the selected record. - Click Yes to confirm.
- In the Confirm Delete dialog window, type the word Delete and click
OK.
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