Default First Payment Date Change Process

General

A major function of LoanPro software is to make common company processes as streamlined and effective as possible, to save users on time and manpower. This article will cover how this is generally accomplished with the First Payment Date Change process.

Diagram

The flow chart below outlines all the changes and processes implemented by LoanPro directed by the agent user's inputs in the wizard. The agent user's role is outlined in this article.

Default First Payment Date Change Process

The Default First Payment Date Change Process simplifies changing the first payment date on loan accounts when needed. 

Starting the Process

In the event that a first payment date needs to be changed, enter the loan account in LoanPro and navigate to the 'Wizards Tab'. Select the 'Category' drop-down and click 'Servicing'.

To start the First Payment Date Change Process, the loan must be in the 'Application' or 'Open' status. Click  and  on the 'First Payment Date Change Request' wizard to begin the process.

On this page, record the 'Requested First Payment Date'. Click and .

Choose an appropriate 'Action & Result' and document any additional information in a note. Save the information and click NEXT to complete the wizard.

First Payment Date Change Completion

To continue the process, navigate to the 'Wizards' tab again. Click and on the 'First Payment Date Change Completion' wizard.

Review the request first payment date change. Once the information has been noted, click NEXT.

On this page, follow the provided instructions to change the first payment date to the requested date. Once the loan has be re-activated, click NEXT to proceed.

Check the 'First Payment Date Change Complete' checkbox to verify that the change has been made. Click  and NEXT.

Choose an appropriate 'Action & Result' and document any additional information in a note. Save the information and click NEXT to complete the process.


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