Assigning Contract and Guaranty Fee Information

The following option/scenario is available to assign contract and guaranty fee information when not provided in an imported XML file:    

Scenario 2b:
Commingling Loans with the Same Contract (Different Guaranty Fees per Contract)

The Update All feature allows you to assign the loans in the pool with the same contract number if you haven't done this already. Click on Scenario 2a on the left-hand navigation panel for instructions on how to do this.

If you have already done this, The Update Loan feature on the Loan Details page provides the ability to update the guaranty fee with a specific value for select loans with the same contract, but different guaranty fee. Select one loan or many loans (commingle) and perform updates in the same contract as many times as needed to finish updating all the loans in the pool.

Step-by-Step Instructions:

1. On the Pool Details page, select the Loans tab.

2. Click in the box next to the specific Lender Loan Number(s) to include these loans in the update.

3. Click the Update button to update only these 2 loans in the pool.

   NOTE: In this example, the 2 loans to be updated with new BU/BD information are from the same contract in a pool of 5 loans – i.e., commingling loans with the same contract.

   

4. The Update Loans page will be displayed and indicate that the update includes only the 2 selected loans with the same contract number in the pool. Fill in all the applicable fields, including the preferred guaranty fee Information.

   NOTE: Guaranty fee per contract and guaranty fee after APM should always be the same.

5. Click the Save & Run Loan Edits button.