Default Change Due Date Process
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 Change Due Date process.
Starting the Process
The Default Change Due Date Process is used when the payment due date on a specific loan account needs to be updated or changed.
Enter the specific loan account and navigate to the 'Wizards' tab. Select the 'Category' drop-down and click 'Servicing'.
Click OPEN and START on the 'Change Due Date' wizard to begin the process. The loan must be in an 'Open' status and must have a $0.00 past due balance in order to access the wizard.
On this page, follow the instructions to add a change due date to the account. Once the change due date has been saved, click NEXT to continue the process.
Choose an appropriate Action & Result, then document a note with any additional necessary information regarding the changed due date. Save the information and click NEXT to complete the wizard and the process.