Introduction
The Loan Servicing section lets you customize how loans are managed after funding—covering repayment, additional advances, renewals, and discharge. It centralizes configuration for interest, fees, documents, and payment logic. These settings ensure servicing workflows align with your business and compliance requirements.
Navigating to This Section
Click the Gear icon in the top-right corner to open Settings.
Select Company Settings.
Expand Loan Servicing to view Repayment, Additional Loans/Advances, Renewal, or Discharge.
Tip: If you don’t see this section, check user permissions or consult your administrator.
Repayment
This section lets you manage how borrower payments and investor disbursements are handled. You can configure settings for how payments, adjustments, and charges are applied, including bounced payments and outstanding fees. It also includes rules for investor payments—either withheld until borrower payments are received, paid regardless, or determined per loan. Document settings allow you to standardize investor statements and borrower notifications.
Additional Loans/Advances
Configure how payments and interest adjustments are calculated for multiple advances. The system lets you define draw request rules, interest collection methods, and early termination penalties specific to Construction and Fix & Flip loans. Document setup ensures required notices and agreements are generated automatically.
Renewal
Adjust renewal behavior by enabling additional setup fields, applying standard renewal fees, and controlling how renewal documents are generated. These settings help enforce consistency across renewals while supporting customizable investor statements and borrower agreements.
Discharge
Discharge settings govern how fees, documents, and interest are calculated at loan closure. You can enable Power of Sale or Foreclosure settings, apply discharge fees or penalties, and configure document templates such as discharge instructions and payout statements. Payment method rules ensure final calculations are processed correctly.
FAQs
Can I apply different payment rules for investors on each loan?
Yes. The system allows you to control investor disbursements per loan or apply global rules.
Are early termination penalties only for Construction and Fix & Flip?
Yes. They apply specifically to additional draws in those loan types.
Will discharge fees apply to all loan closures?
No. Discharge fees only apply if the relevant toggle is enabled in the Standard Fees section.
Need Further Assistance?
For additional support, contact us:
📧 Email: support@mortgageautomator.com
💬 Live Chat: Click the question icon at the top-right corner of your screen.