Introduction
Configuring PAD file settings optimizes payment processing efficiency and ensures transactions comply with financial institution requirements. This guide outlines key settings, including financial details, grouping preferences, and file generation options.
Navigating to This Section
1. Click the Gear icon in the top-right corner to open Settings.
2. Select Company Settings.
3. Use the left-hand navigation menu to find and expand Administration Settings.
4. Locate PAD File Setup.
Tip: If you cannot access PAD File Setup, ensure you have the necessary permissions or check with your administrator.
PAD File Setup
Accurate financial details ensure successful transactions. Enter the following information:
Field | Description |
Data Centre | Select the processing centre responsible for generating PAD files. |
Originator Name | Enter your legal company name. |
Originator ID | Enter the unique ten-digit identifier provided by your financial institution. |
Branch/Transit Numbers | Input your five-digit financial institution details for accurate payment processing. |
Account Number | Enter a 7-12 digit account number. |
Best Practice: If you use separate accounts for withdrawals and deposits, provide unique originator IDs to avoid processing errors.
Configure Additional Settings
These settings customize PAD file generation:
Setting | Description |
Include Transmission Header | Required by some institutions; ensure compatibility. |
Show Loan Payment Frequency | Enables sorting and viewing of PAD transactions by payment frequency. |
Allow Transactions on Weekends/Holidays | Permits payment processing on non-business days. |
Set Grouping Preferences
Grouping options determine how PAD transactions are batched for processing:
Grouping Option | Description |
Investor Grouping | Per Account: Combines payments per investor account. Per Loan: Groups payments by individual loans. |
Borrower Grouping | Per Loan (Same Date): Combines same-date payments into one transaction. No Grouping: Processes payments individually. |
Note: Choose grouping preferences based on your reporting and tracking requirements. For example, selecting Per Account can simplify reconciliation, while Per Loan allows for more detailed tracking.
FAQs
What happens if my financial details are incorrect?
Incorrect financial information may lead to payment failures. Always verify branch and transit numbers before saving settings.
Can I change PAD file settings later?
Yes, but changes will only apply to newly generated PAD files. To update an existing PAD file, you must regenerate it.
How do I check if my financial institution supports PAD file formats?
Contact your financial institution to confirm file format compatibility before finalizing your setup.
Need Further Assistance?
If you have additional questions or require support, please contact our support team:
📧 Email: support@mortgageautomator.com
💬 Live Chat: Click the question icon at the top-right corner of your screen.