Change Base Rate of Variable Interest Rate Loans
There are two ways to change a loan’s base rate: * Either within the loan ; or * Processed within a bulk action Changing the Base Rate Within A Loan: 1.Go to Payments > Transactions > Click +Add 2.Select Transaction Type : Set Interest Rate 3.Fill out all required fields and adjust the Bas…
Payments 1098 Report
Part 1 - Tracking borrowers that are 1098 recipients The Lender will need to identify which payment accounts require IRS 1098 reporting. There is a helpful report, located in Reports & Letters, to assist in identifying potential 1098 reporting borrowers called "Payments: Potential 1098 Reporting." This report IS …
Payments > Billing menu explained
* Contact Method - Select which method the borrower would like to receive their billing statement by: * Mail - Select this option if the borrower would like to receive their billing statement by mail. When generating billing statements in Payments > Actions > Generate Statements, the borrower's statement wi…
Payments Video Trainings
Here are our previously recorded webinars covering Payment Administration, Boarding and Transaction Types, along with links to relevant articles in our Knowledge Base: Administration and Boarding Webinar Transaction Types Boarding and Administration How to Board a Payment Account in Payments Schedu…
Payments: How to Post a Payment
This article will show you how to post a payment to a borrower's account, and how to reverse or delete out the payment. There are two items you will want to confirm before you begin: * Do you have the appropriate permission settings? You need to be able to access the Payments > Transactions menu within a loan, …
Payments: Importing/Exporting NACHA Files
Want to export NACHA files from Ventures to send to your Bank to initiate ACH debits? If yes, then you will need to set up a few items ahead of time in order for this to be successful. NEED TO KNOW - Exported NACHA file uses SEC code PPD or CCD *** CHECK WITH YOUR BANK TO CONFIRM YOU ARE AUTHORIZED TO INITIAT…
Payments Metro2 Credit Reporting Cheat Sheet
***This KB article is for Payments clients that use the Metro2 Credit Reporting module*** Q: How do I set up an account for reporting? A: In the Payments Menu > Credit Reporting (Metro2) > Manage Accounts menu you will be able to set up accounts for credit reporting. The Manage Accounts grid lists all boarded …
