Payments: How to track one Loan Pool or Loan Fund per loan without Ownership module
If you DO NOT have Payments: Ownership (a dd-on module), you can still track and report on a loan fund or loan pool if they funded/own 100% of the Amount Financed. ACTION ONE - Set up Associated Transaction 1) Within the loan go to the Associated Transactions menu 2) Click +Add 3) Select Funding Sourc…
Payments: How to add a new Owner/Investor/Pool
Q: How do I add a new owner, investor, loan fund, or loan pool so that it appears in the Change Ownership drop-down menu when trying to add them to a loan record? A: You will need to add them within the Payments Main Menu > Ownership menu. The steps for doing this are provided below. * Click on the O…
ETRAN: Principal and/or Contact Ownership Requirements
The ETRAN platform has several MANDATORY fields for contacts when presenting them as owners for an entity within ETRAN. The following is a list of required data points that are required: * First Name * Last Name * TIN * Controlling Interest Management * Guarantee Type * Citizenship * Ethnic * Gender * Vete…
Payments How to add an Owner/Investor/Fund when boarding a payment account
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 follow…
Bulk Actions: Using Apply Payments
Using Apply Payments This action is intended for posting payments in bulk for loans on ACH. You can only post a Regular Payment amount or the Total Amount Due amount. This is designated in the Payments > Billing > ACH Billing Method field for each loan. If nothing is selected, the system will default to posting …
7A Secondary Market Loan Sale
This article will show how to record a 7A Community Advantage Loan Sale on the Secondary Market within Ventures. If you have Payments and the 1502/Investor module, please follow the procedure below: STEP ONE: Add Ownership Transaction 1) Go to loan that has been sold, click on Payments > Ownership 2) Click Ch…
