Master Record Field 78 Automatic Payment Flag would have an X, Field 79 DDA Account Number would have the checking or savings account number, and Field 90 would contain a 3 or a 5.

How often should I bill accounts?

Loan Servicing accounts qualify for billing when the date the payment is due plus the number of days after due date is reached until paid. The operator should bill until the Exception Report indicates there are no more accounts due for funds to be taken from the borrower's checking or savings accounts for their payment period.

What type of notices are available in Loan Servicing to notify the member of funds withdrawn from their checking or savings accounts for mortgage payments?

Loans with a 3 or a 5 in Master Record Field 90 will qualify for a Debit Memo to be printed when the amount being billed changes.

What will happen if there is not enough money in the borrower's account for the total payment?

The billing file will not withdraw funds for the payment if sufficient funds are not available. When the payment file is sent to the Loan Servicing program through the Mailbox, an Exception Report indicating why the funds were not available will be printed. The account qualifies to be billed until the amount owing has been collected.

If the account becomes delinquent, and a late charge has been assessed, the payment plus late charge will be withdrawn when funds are available.

How do I send a late notice on accounts billed, which have insufficient funds?

Selection (03.13.06.02) prints the 1st Notices. Selection (03.13.07.02) prints the 2nd Notices and assesses the late charge.

How do I keep the DDA Payments separate from the actual cash payments?

One of the GL Interface accounts in the Loan Servicing package is called "TR." This account is the "cash in" amount of the transferred money coming in through the DDA billing transaction groups. This account should have a different number than your "cash in" to separate the actual cash from transferred cash entered.

The DDA accounts were billed, but the billing file is no good. I cannot return the payment file to the Mailbox. What can I do?

MC Service Support can help you "un-bill" the accounts through the LS Implementation program and remove the billing group number. If money has been withdrawn from your checking or savings accounts, you will have to contact your credit union software vendor to re-bill the accounts due.

How often do I receive the Teller Payments?

Teller Payments can be accepted by the Loan Servicing program one or more times during the day. Selection (12.04) will list all Teller Payments to be received. Select (12.05) to receive all Teller Payments. The Loan Servicing program does not have to be taken down to accept Teller Payments.

Will the Teller Payments be posted late?

We suggest you accept the Teller Payments before your last update for the day, so they will be posted the day they were accepted.

What makes the MC Status Inquiry file available for the credit union software?

First, run the ALL STATUS RECORDS option (12.03). This will send the entire portfolio to the Mailbox. Once the information has been sent to the Mailbox, each day select the UPDATED STATUS RECORDS option (12.01), which will update the file for only the accounts that have changed.

Once or twice a month you may want to update all records. To do so, run the ALL STATUS RECORDS option (12.03).

We are using our credit union's General Ledger. How can I get GL information from MC's Mortgage Banker, Construction, and Loan Servicing packages?

General Ledger information is sent to the Mailbox using the MB, CA, and LS INTERFACE UPDATE files (12.12), (12.14), and (12.11). This will send to the Mailbox information for General Ledger posting from run to run.

How can I print this tutorial?

Be sure your computer is connected to a printer. With your mouse, click on File in the top left corner of your screen. A pull-down menu will be displayed. Click on Print . . . and the page will print.