Portfolio Redemption/Sale Reversal
Overview of IL712
If a portfolio redemption or sale has been recorded in error, Portfolio Redemption/Sale Reversal enables your organization to easily counteract this. It issues a check or a wire to the master-account holder on the portfolio record. This application also enables you to customize the amounts reversed from various portfolio balances such as the face amount, interest, and premium or discount.
- From the DDI Connect main menu, double-click Financial Services
- Double-click Portfolio
- Double-click Transactions
- Double-click Portfolio Redemption/Sale Reversal. You will see this screen:
In the Portfolio field, type the portfolio number that received the incorrect interest. Press enter or click Find on the toolbar. You can also click the list icon to select from a list of portfolios in the system or click the search icon to locate the portfolio using Name/Address Inquiry. Once you have located the portfolio, the screen will look like this:
The following fields are available on this screen:
| Field | Description |
|---|---|
| Reverse date | The date of the reversal transaction. Enter the date in mm/dd/yyyy format |
| Reverse units | Example |
| Reverse face amount | Example |
| Reverse interest sold | Example |
| +Premium/-Discount | Example |
| Reverse monthly amort | Example |
| Reverse +Gain/-Loss | Example |
| Check amount | Example |
| Type | Example |
