Introduction
The Additional Discharge Setup section allows you to configure alternative discharge methods such as Power of Sale and Foreclosure. You can also enable a reason-tracking dropdown to support operational transparency and reporting. These settings help ensure the discharge process aligns with legal and business requirements.
Navigate to This Section
Click the Gear icon in the top-right corner to open Settings.
Select Company Settings.
Expand Loan Servicing > Discharge.
Click Additional Discharge Setup.
Tip: If you cannot access this section, confirm your user role or contact your administrator.
Additional Discharge Setup
Setting | Description |
Power of Sale | Adds the Power of Sale option to the Discharge/Payoff section. Use this when selling a property due to borrower default. Surplus funds are returned to the borrower. |
Foreclosure | Adds the Foreclosure option to the discharge process. The lender retains the property and can distribute surplus funds as needed. |
Show Reason for Discharge | Displays a Reason for Discharge dropdown with predefined options:
|
Tip: Use the Reason for Discharge dropdown to track borrower discharge trends for reporting and compliance insights.
FAQs
Can I enable Power of Sale and Foreclosure at the same time?
Yes. Both options can be enabled simultaneously and selected per loan case.
Are the discharge reasons customizable?
No. The dropdown options are fixed and cannot be edited.
Do these settings apply retroactively?
No. They only affect loans discharged after the settings are saved.
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.