Loan Add/Maintenance
Contents
- 1 Overview
- 2 Add a Loan
- 3 View Button
- 3.1 Transaction Inquiry
- 3.2 Loan Documentation
- 3.3 Loan Payment History
- 3.4 Loan Tax Maintenance
- 3.5 Loan Change History
- 3.6 Loan Support Inquiry
- 3.7 Loan Insurance Maintenance
- 3.8 Loan Tickler
- 3.9 Loan Memos
- 3.10 Loan Calculator
- 3.11 Conversion History
- 3.12 Payoff Calculations
- 3.13 Loan Relief Maintenance
- 3.14 Transaction Reasoning
- 3.15 Risk Rating Details
- 4 Maintain an Existing Loan
Overview
The Loan setup screens have several sub-tabs associated with them. Each primary tab is in blue with white lettering, and the sub-tabs are in grey with black lettering. To create (add) a new loan in the DDI Connect system, perform the following steps:
- From the DDI Connect main menu, double-click Financial Services
- Double-click Loans
- Double-click Transactions
- Double-click 410 Loan Add/Maintenance. You will see this screen:
Add a Loan
In the Create a New Loan section, you have the following options:
| Field | Description |
|---|---|
| Loan # | If you wish to add a particular loan number, you can enter it here. Leave this field blank to select the next available loan number. If your organization bases its loan numbers on the type of loan, the system will automatically pull the next available loan number in the established range for the selected loan type |
| Loan Type | Select the type of loan you are adding. You can type in the loan code, or click the list to select from the list of available loan types in the system. For information on configuring loan types, please reference this page: Loan Type Maintenance |
| Account | You must select the account for the borrower for whom you are setting up the loan. The borrower MUST have a borrower account linked to their account. For information on configuring accounts, please reference this page: Account Entry |
When you have added the necessary information, click Next. You will see this screen:
Loan Setup
There are several tabs that you will want to review and add information to as appropriate. The first you will see is the Loan Setup tab. This has varying subsequent tabs to enter pertinent information beginning with the Summary tab.
Summary Tab
The Summary tab contains the following fields:
| Field | Description |
|---|---|
| Status | The loan status will default to the first loan status that your organization has defined in the Loan Status code set. For information on how to configure loan status codes, please reference this page: Loan Status Codes |
| Regular payment or Interest only | Indicate whether the new loan is to be regular payment or interest only |
| Purpose | If your organization tracks the loan purpose, you can click the drop down arrow to select from a list of purpose codes configured in the system. For information on setting up loan purpose codes, please reference this page: Loan Purpose Codes |
| Monitor | If your organization utilizes loan monitors, you can identify the monitor for this loan by clicking the drop down arrow and selecting from a list of monitors. For information on how to set up loan monitors, please reference this page: Loan Monitor Codes |
| Processor | If your organization identifies the loan's processor, you can do so here by clicking the drop down arrow and selecting from a list of processors. For information on how to set up loan processors, please reference this page: Loan Processor Codes |
| Category | The loan category is the type of loan you are setting up. Click the drop down arrow to select from a list of types in the system. For information on how to set up loan types, please reference this page: Loan Types Codes |
| Denomination | If your organization tracks the denomination of borrowers, you can identify that here by clicking on the drop down arrow and selecting from a list of denominations configured in the system. For information on how to set up loan denominations, please reference this page: Loan Denomination Codes |
| Principal balance | Current balance. |
| Last principal balance | Loan balance after the last regular payment. |
When you have finished making your changes on this tab, click the Setup tab to continue.
Setup Tab
The Setup tab has the following fields available:
| Field | Description |
|---|---|
| Security | Select the security that is available, should the borrower default on the loan. Click the drop down arrow to select from a list of security types that have been configured within the system. For information on how to set up security types, please reference this page: Loan Security Codes |
| Interest rate | Enter the interest rate for the loan. This rate will fluctuate as changes are made (if applicable) |
| Original rate | This is the loan's original interest rate, prior to any adjustments made |
| Commitment date | Enter the date that your organization agreed to fund the loan. Date should be entered in a mm/dd/yyyy format |
| Amortization term | This is the period of time in months over which the borrower will repay the loan |
| Commitment amount | This is the maximum amount of money that can be advanced to the borrower |
| Amortization date | This is the date by which the borrower is scheduled to have the loan paid off, assuming that all loan payments are made on time. Enter the date in a mm/dd/yyyy format |
| Commitment expires | This is the date after which no further advancements can be made on the loan. Enter the date in a mm/dd/yyyy format |
| Application fee due | If your organization charges an application fee, enter the amount of the fee in this field |
| Closing fee rate | If your organization charges a closing fee, you can enter the percentage that should be applied to the loan amount in order to calculate the closing fee rate |
| Interest computation | Select the interest computation method that should be assigned to this loan. Click the drop down arrow to select the appropriate method. For information on how to configure interest computation methods in the system, please reference this page: Loan Interest Computation Codes |
| LSP base rate | This is the minimum interest rate that your organization can offer a borrower |
| Amount to be refinanced | Loan dollar amount to be refinanced through your organization. This field contains a positive amount while the loan has a setup status (loan status ending with zero). The amount is automatically reduced to 0.00 when the first loan advance is made |
| Currency code | Choice between United States or Canadian currency. |
| Collateral value | This is the estimated or assessed dollar value of the collateral for the loan |
| Original amount requested | This is the dollar amount originally requested by the borrower |
| Collateral value date | Enter the date that the value of the collateral was confirmed. Type the date in a mm/dd/yyyy format |
| Broker PIN | Broker PIN entered here |
| Collateral value type | This indicates how the value was assessed to the collateral. Click the drop down arrow to select from a list of collateral value types that have been configured in the system. For information on how to set up collateral value types, please reference this page: Loan Collateral Value Type Codes |
| Initial grant balance | This is the initial grant balance |
When you have entered the necessary information, click the Adjust tab
Adjust Tab
The Adjust tab has the following fields available:
| Field | Description |
|---|---|
| Adjustment method | This setting establishes the rules surrounding interest rate adjustments. Click the drop down arrow to select the adjustment method that should be used. For information on how to configure adjustment methods in the system, please reference this page: Loan Adjustment Methods Codes |
| Adjustment date | This is the next date when the interest rate is eligible for adjustment. Enter the date in a mm/dd/yyyy format |
| Adjustment freq (months) | Enter the minimum number of months that should elapse between interest rate adjustments |
| Per adjust max | If your organization has a limit on the maximum percentage for each individual interest rate adjustment, enter it here. Leave the percentage at 0 if there is no limit |
| Lifetime adjust max | If your organization has a maximum percentage adjustment (increase or decrease) from the original loan interest rate, you can set it here. Leave the field at 0 if there is no limit |
| Minimum rate | Enter minimum rate for loan. |
| Maximum rate | Enter maximum rate for loan. |
When you have finished entering the necessary information, click the Due tab.
Due Tab
The Due tab has the following fields available:
| Field | Description |
|---|---|
| Required support | This is an information only field. Enter the dollar amount of loan support at which a special interest rate becomes applicable |
| Risk code | If your organization utilizes loan risk ratings, you can click the drop down to select the applicable risk code. For information on how to configure loan risk codes in the system, please reference this page: Loan Risk Codes |
| Pool # | If this loan belongs to an investment pool, you can enter that pool number here |
| Original risk rating | If your organization utilizes loan risk ratings, this field will display the loan's original risk rating, prior to any adjustments made throughout the life of the loan. |
| Regular payment | Enter the loan's regular payment amount. If you need assistance in calculating the loan payment amount, you can use the Loan Calculator in the system. For information on how to use the loan calculator, please reference this page: Loan Calculator |
| Current risk rating | This field displays the adjusted risk rating throughout the lifetime of the loan |
| Next payment due | Enter the date that the next loan payment is due. Type in the date in a mm/dd/yyyy format |
| Current risk rating date | Displays the date that the current risk rating became effective |
| First payment due | Enter the date that the first REGULAR loan payment is due. Type in the date in a mm/dd/yyyy format |
| Regular payment | Click the drop down arrow to select the frequency in which the loan payment is due. For information on how to configure loan payment frequency codes in the system, please reference this page: Loan Regular Payment Codes |
| Maturity date | Enter the date at which the loan will mature, assuming that all loan payments are made on time. Type in the date in a mm/dd/yyyy format |
| Special payment | If this loan has a special payment required, enter the dollar amount of that payment |
| Special payment | Click the drop down arrow to select the frequency in which the special payment is due. For information on how to configure special payment frequency codes in the system, please reference this page: Loan Special Payment Codes |
| Special payment due | Enter the due date for the special payment, if applicable. Type in the date in a mm/dd/yyyy format |
| Reserve payment due | This is the amount of reserve or escrow due on the loan |
If your organization utilizes late or miscellaneous fees, information about those fees will appear on this tab in the following fields:
| Field | Description |
|---|---|
| Late fee exempt | Type 'yes' or 'no' in box |
| Late fee paid | If the borrower has paid any late fees over the lifetime of the loan, the accrued amount paid will show in this field |
| Late fee due | If there is a late fee owed on the loan, the amount owed will display in this field |
| Misc fee paid | If any miscellaneous fees have been paid over the lifetime of the loan, the accrued amount will show in this field |
| Misc fee due | If there is a miscellaneous fee owed on the loan, the amount owed will display in this field |
When you have entered all of the necessary information, click the ACH and Dates tab.
Dates Tab
The Dates tab has the following fields available:
| Field | Description |
|---|---|
| Closing date | This is the date when the commitment amount is fully advanced. Enter the date in a mm/dd/yyyy format |
| Last payment date | This is the date of the most recent payment. The system will automatically update this field as payments are made |
| First advance date | This is the date of the first advance on the loan. The system will automatically update this field based on the Loan Advance transaction process. For information on how to issue an advance on a loan, please reference this page: Issue Loan Advance |
| Last advance date | This is the date of the most recent advance on the loan. The system will automatically update this field based on the Loan Advance transaction process. |
| Last interest date | This is the date of the most recent interest accrual. Needed in order to know the amount of interest to charge between transactions. The system updates this date value as the various transactions are performed during the loan’s lifecycle |
| LSP review date | Date when the next Loan Support Program process runs. LSP is a type of adjustment method where the interest rate can fluctuate based on that interest rate and principal balance of investments linked to a loan. Enter the date in a mm/dd/yyyy format. The system will update this field based on the LSP frequency indicated on the Adjustment tab (if applicable) |
| Escrow close date | This is the date set for escrow to close. |
| Origination date | This is the date the loan was originated. |
When you have entered the necessary information, click the GL 1/2 tab.
GL 1/2 Tab
This tab shows you the various GL accounts associated with the monies associated with this loan. The only field that you have the ability to adjust on this tab is the Loan G/L account, which is the GL account associated with the routine financial transactions of this loan. If you wish to change the GL number, you can type it in or click the list icon to select from a list of active GL accounts in the system. However, since most GL account numbers are set within the Loan Type Maintenance, it is recommended that you make the necessary adjustments at that level, rather than at the individual loan level. For information on performing loan type maintenance, please reference this page: Loan Type Maintenance
Click the GL 2/2 tab.
GL 2/2 Tab
This tab shows you additional GL accounts associated with this loan. You cannot make modifications on this tab. If you need to adjust a GL account associated with any of these items, it will be done on the Loan Type Maintenance screen. For information on performing loan type maintenance, please reference this page: Loan Type Maintenance
Click the Beneficiary/Remitter tab.
Beneficiary/Remitter Tab
The beneficiary/remitter tab outlines how certain loan documents, such as receipts and statements, are to be handled with regard to the beneficiary and remitter, if applicable. You have the following fields available on this screen:
| Field | Description |
|---|---|
| Beneficiary | If there is a beneficiary to be associated with this loan, click the drop down arrow to select either the borrower or "other". If you select the borrower, their information will populate in the text box below the field. If you select Other, a box will appear that allows you to select the PIN number of the individual, church or organization to be established as the beneficiary on this loan |
| Remitter | If this loan is to have a remitter associated with it, you can establish that here by clicking the drop down and selecting either the borrower or "other". If you select the borrower, their information will populate in the text box below the field. If you select Other, a box will appear that allows you to select the PIN number of the individual, church or organization to be established as the remitter for this loan |
| Mail Receipts to | In this area, you can tell the system how to handle loan payment receipts. Click the drop down arrow to select if the borrower should receive none, the original or a copy. If you have established a beneficiary and/or remitter for the loan, you can also determine if they should receive none, the original or a copy. |
| Mail Statements to | In this area, you can tell the system how to handle loan statements. Click the drop down arrow to select if the borrower should receive none, the original or a copy. If you have established a beneficiary and/or remitter for the loan, you can also determine if they should receive none, the original or a copy. |
When you have finished entering the necessary information, click the Disbursement tab.
Disbursement Tab
The disbursement tab has the following fields available:
| Field | Description |
|---|---|
| Disburse method | This is the method to be used for disbursements of funds from this loan. Click the drop down arrow to select the appropriate method |
| Disburse payee | The default payee for disbursement of funds from this loan. Click the drop down arrow to select the payee. The name and address of the selected payee will appear in the text box to the right of the field |
| Disburse ABA # | If applicable, enter the bank ABA (routing) number for the account that will be receiving the disbursement funds. This should only be entered if the funds will be disbursed via bank wire |
| Disburse account | If applicable, enter the bank account number for the account that will be receiving the disbursement funds. This should only be entered if the funds will be disbursed via bank wire |
| Disburse account type | Click the drop down arrow to select the type of account that will be receiving the disbursement funds. This should only be selected if the funds will be disbursed via bank wire |
| Disburse memo | If applicable, you can enter a memo to be included on all disbursement payments |
When you have finished with each of the sub-tabs on the Loan Setup tab, click the Correspondents tab.
Correspondents tab
For some loans, you may have need to send loan documentation (such as receipts and statements) to individuals or organizations other than the beneficiary or remitter. These are known as loan correspondents within the DDI Connect system, and they are configured on this screen.
To add a new correspondent, click the Add button on the toolbar. The fields will now activate for editing:
| Field | Description |
|---|---|
| Correspondent | Click the drop down arrow to select the correspondent type you are adding. For information on configuring correspondent types in the system, please reference this page: Loan Correspondent Types Codes |
| PIN | You can enter the constituent PIN here. You can also use the icons to the right of the field to search for an existing PIN, add a new constituent, or edit the constituent attached to this correspondent type |
| ABA (Routing) number | Enter the bank ABA (routing) number, if applicable |
| Bank account | Enter the bank account number, if applicable |
| Bank name | Enter the bank name, if applicable |
| Account type | Click the drop down arrow to select either checking or savings. If your organization has a need to configure additional account types, please reference this page: Autopay Account Type Codes |
| Wire memo | If applicable, you can add a wire memo for this correspondent |
| Send copy of receipts to this correspondent | If selected, this correspondent will receive copies of all loan receipts generated for this loan |
| Send copy of statements to this correspondent | If selected, this correspondent will receive copies of all loan statements generated for this loan |
When you have finished adding the correspondent information, click the ACH Payments tab.
ACH Payments tab
The disbursement tab has the following fields available:
| Field | Description |
|---|---|
| Transaction type | Enter the choice of 'Regular Loan Payment or 'Extra Loan Payment' |
| Status | The choices are 'Active' or 'Inactive' |
| Frequency | This field allows you to choose from 'Monthly', 'Quarterly', 'Semiannually', etc. |
| Next date | Choose the next payment date |
| Expires date | You can choose to enter a date that designates an expiration date for the payment |
| Amount | Enter the amount of the payment |
| EFT account | Allows you to choose the EFT account you want to use if you have multiple choices |
When you have finished adding the ACH Payments information, click the Account tab.
Account tab
The Accounts tab displays the borrower's account information. For information on how to configure information on this screen, please reference this page: Account Entry
When you have finished making any necessary changes on the borrower's account, click the Memos tab.
Memos tab
For information on how to add memos, please reference this page: Adding Memos
View Button
The View button allows you to view multiple screens of information related to the loan. Select one of the options below to view the related screen
Transaction Inquiry
To view transaction history for this particular loan, click View and select Transaction Inquiry. When you have finished viewing the information, click Exit to return to the loan screen.
Loan Documentation
To view all documentation associated with a loan, click View and select Loan Documentation. When you have finished viewing the information, click Exit to return to the loan screen.
Loan Payment History
To view loan payment history, click View and select Loan Payment History. When you have finished viewing the information, click Exit to return to the loan screen.
Loan Tax Maintenance
To view the loan's Tax Maintenance information, click View and select Loan Tax Maintenance. When you have finished viewing the information, click Exit to return to the loan screen.
Loan Change History
To view a loan's change history, click View and select Loan Change History. When you have finished viewing the information, click Exit to return to the loan screen.
Loan Support Inquiry
To view the loan's support information, click View and select Loan Support Inquiry. When you have finished viewing the information, click Exit to return to the loan screen.
Loan Insurance Maintenance
To view a loan's insurance information, click View and select Loan Insurance Maintenance. When you have finished viewing the information, click the Exit button to return to the loan screen.
Loan Tickler
To view loan tickler information, click View and select Loan Tickler. When you have finished viewing the information, click the Exit button to return to the loan screen.
Loan Memos
To view existing memos or add memos to the loan, click View and select Loan Memos. When finished, click the Exit button to return to the loan screen.
Loan Calculator
To view the loan calculator, click View and select Loan Calculator. When you have finished with the screen, click Exit to return to the loan screen.
Conversion History
To view the conversion history of a loan, click View and select Conversion History. When you have finished viewing the information, click Exit to return to the loan screen.
Payoff Calculations
To calculate a loan's payoff estimates, click View and select Payoff Calculations. When you have finished viewing the information, click Exit to return to the loan screen.
Loan Relief Maintenance
To view a loan's Relief Maintenance information, click View and select Loan Relief Maintenance. When you have finished viewing the information, click Exit to return to the loan screen.
Transaction Reasoning
To view a loan's transaction reasoning, click View and select Transaction Reasoning. When you have finished viewing the screen, click Exit to return to the loan screen.
Risk Rating Details
To view a loan's risk rating details, click View and select Risk Rating Details. When you have finished viewing the information, click Exit to return to the loan screen.
When you have finished making your changes or entering the information, click Save.
Maintain an Existing Loan
To modify an existing loan, enter the loan number in the Existing Loan Maintenance field on the Loan Add/Maintenance screen:
Click Next or press enter to launch the loan screen:
The screen and tabs are the same as they are for adding a loan. When you have finished making your changes, click Save to retain them.
