Update Company Settings
To update the company settings within an individual company navigate to My Account > Company Profile > Company Contact Information. Click the button located near the top right of the page.
Information: Select your timezone. The timezone drop-down lets you select the time zone that will be used for your company inside of LoanPro Software. All of the displayed times will be adjusted for the time zone you select.
Lien Holder Code
Information: This is your company’s lien holder code. The lien holder code is a variable for use inside of LoanPro. It can be used in custom forms, payment receipts, print bills, etc.
Information: Cutoff Date is used as an absolute start date for all company loans and transactions. LoanPro will not let you create loans or log transactions previous to the Cutoff Date. This is a safeguard to ensure that you aren’t creating loans or logging transactions on dates that are years away from the date you intended.
Information: The date format selection lets you choose how dates will be displayed within the LoanPro system. The format you choose will affect all dates system-wide.
Include Today’s Interest in Payoff
Here you can select to include or exclude the interest for the final day of the loan in the payoff amount. More often than not, this selection is not based on a state regulation but is simply a company choice.
Lease Payoff Calculation
This allows to to set a Lease Payoff Calculation for the whole tenant. The options are Standard or Full.
- Standard calculates payoff as: Principal Balance + dueFees + payoffFees + Escrow bucket(s) options on payoff + dueInterest.
- Full calculates payoff as: Principal Balance + dueFees + payoffFees + Escrow bucket(s) options on payoff + Finance Charge (from TIL box) subtract paidInterest.
After you choosing the needed settings, click .