Adjustable Mortgage Processing
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Contents
Overview of IL448
The adjustable mortgage processing performs the updates to loan accounts that are noted on IL447 (Adjustable Mortgage Notices). For information on how to generate the notices, please reference this page: Adjustable Mortgage Notices. When it is time to update the loan records with the adjusted rates and payments, you will process via IL448. To run the update:
Report Criteria Example
Report Criteria Fields
| Field | Description |
|---|---|
| Adjustment date range/thru | Enter the beginning and ending date for the range for which you wish to run the adjustments. You can type the dates in a mm/dd/yyyy format or click the calendar icons to select the desired date |
| Loan categories | If you wish to run the adjustment for just a particular loan category, you can do so by entering the loan category here. You can also click the list icon to select from a list of loan categories within the system. Leave the field blank to process adjustments for all loan categories within the date range you specified |
| Loan number | If you wish to run the adjustment for just a particular loan, you can do so by entering the loan number here. You can also click the list icon to select from a list of loans within the system. Leave the field blank to process adjustments for all loans within the date range you specified |
| 'Leave declining payments intact | If you do not want payments to adjust if the regular payment is going down based on the new rate, check this box |
| 'Leave interest only loan payments intact | If you do not want interest only loan payments to adjust, check this box |
| 'Round loan payments to next whole dollar | To round the loan payments to the next whole dollar based on the rate change, check this box |
| 'Leave payments intact if change is less than $XX.XX | To leave payments intact if a change is less than a specific amount, check this box and enter the dollar amount |
| Update loans | If not selected, the system will run in preview mode only, and no changes will be made to the loans. If selected, the system will update the loan records |
Print Options
After clicking the Print Options button you will see the following options. Choose the desired options and click OK to return to the report parameters screen.
| Option | Description |
|---|---|
| Printer | Click the drop down arrow to select from a list of available printers. DDI Connect uses your default printer unless told otherwise |
| Format | Click the drop down arrow to select from a list of available formats. Select paper size, number of columns, and number of rows for printing. Each report has built-in format defaults. Select “Use Defaults” to use the built-in report defaults. The number of rows and columns controls the print size and amount of information per page |
| Memo | If you wish, you can add a memo to the output of the report. NOTE: It is recommended that Word documents be saved with the .docx extension |
| View Report | This option generates a pdf file that is displayed on the screen when the report is generated |
| Archive Report | If this option is selected, the system will archive the report in the DDI Connect report archives. For information on working with archived reports, please reference this page: Archived Report Viewer |
| Print Report | If selected, the system will generate the report output to your default printer. NOTE: You will also receive a pdf version of the report, displayed on your screen |
| Print via PDF | Prints directly to your printer. |
| This option allows you to send a .pdf attachment of the report to the indicated users' email addresses. When OK is clicked, a dialog box will open requesting a recipient | |
| Duplex/Top | Prints the report on both sides of the paper in landscape style. The printer must be capable of printing on both sides or an error will occur |
| Duplex/Side | Prints the report on both sides of the paper in portrait style. The printer must be capable of printing on both sides or an error will occur |
| Green bar | Adds shaded, horizontal bars to the report, making it easier to read across columns |
| No dialog | Selecting this option means that no ‘Report Completed’ dialog will display after the report has been generated |
| Extra copies | If you want extra copies of the report generated, type the number in this field |
