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How to make changes to lender assignments?

This article explains how to change assignments of loans between lenders in The Mortgage Office®.

To change assignments of loans between lenders:

  • Click on the running Loan Servicing drop-down in the left panel of The Mortgage Office®.
  • From the running Loan Servicing drop-down, click the Loans drop-down. 
  • Click All Loans from the Loans drop-down. 
  • From All Loans the grid, select the loan 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 FindSearch icon box 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 edit from the options available on the top panel or double-click on the record to open it.
  • Click dollar-sign-solidFunding in the navigation panel on the left.

TIP: If the record you want to edit is not visible, go to the bottom-right-hand side of the 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.

  • Click on db Add Funding.
    • In the assistant that pops up, the Funding Date should be the same as the Interest Paid To date.
    • The Funding Amount is $0.00 unless this lender is funding an additional amount to the loan and click on NEXT in blue boxNext.
  • Click on Add New Lender and choose the appropriate account for the new Lender.
    • After selecting the new lender enter any rate modifiers, if applicable, and then click OK OK.
    • The newly added lender should now appear above the current lender.
  • Enter a negative amount for the current lender that no longer owns the loan or was incorrectly setup, equal to the amount the current lender has already funded. 
  • Enter a positive amount of the loan for the new lender assignment, equal to the amount that was entered for the current lender in the previous step.

TIP: If the new lender is not going to own the entire loan, adjust both amounts only to show the amount that is owned by the new lender. 

  • Click on NEXT in blue box Next.
  • Click the Apply button to save the changes.

 

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