This KB article will give you instructions on how to add an Owner, Investor, or Pool/Fund when boarding a payment account. This process is for clients that have the Ownership piece. You can always add an Owner, Investor, or Pool/Fund after the payment account has been boarded.  Please board the payment account following the instructions in the KB Article How to Board a Payment Account in Payments, however do not press Board Loan button until you have added an Owner.

***This KB article is for Payments clients that use the Participation Tracking/Ownership module***

Where do I add an Owner, Investor, or Pool/Fund when boarding a payment account?

• Payments menu > Loan Details tab > Ownership section
• Ownership section is above the Board Loan button

How do I add an Owner, Investor, or Pool/Fund when boarding a payment account?

• Click + Add Owner button
• Select Owner from dropdown menu (Review Payments: How to add a new Owner/Investor/Pool if you need to add an additional selection to dropdown menu) *** Required Field***
• Determine principal belonging to Owner at boarding
• Determine guaranteed principal belonging to Owner at boarding, if applicable
• Interest Rate prepopulates with value in Effective Rate field *** Required Field***
• Select Servicing Fee Method from dropdown menu *** Required Field***
• Enter other fee information, if applicable
• Determine if any late fees or NSF fees below to Owner in the Borrower Fees to Owner section
• Make any comments relating to transaction
• Click Save
• Click Board Loan

Where do I see the Ownership record created?

• After boarding the payment account along with the ownership record, you can view the record within the Payments menu > Ownership tab of the loan. You can view the information boarded by clicking on the hyperlink name of the Owner.

What if I make a mistake regarding the ownership?

• Option 1: Delete the payment account and re-board it with the correction
• Option 2: Change ownership record within Payments menu > Ownership tab by clicking on Change Ownership button