Setting Up Custom Fees

 

 

 

Custom Fees are used in a number of places. Custom Fees are used to assess non-interest-bearing fees such as bankruptcy fees, attorney fees, processing fees, etc. The Custom Fees are also used as reasons to adjust loan balances, such as principal-only payments and loan adjustments. Listed below are all of the sections that currently utilize the settings that are set in the Custom Fees option.  These are reasons that a particular action was taken.  You can set these reasons at any time and you can type virtually anything in.  Listed below are some examples that we have noted that are currently in use.  These are only examples and by no means are to redefine how your company conducts business.  At the bottom you will find directions on how to set the Custom Fees.

 

 

 

FUNCTIONS UTILIZE THE CUSTOM FEES REASONS

 

o        Add to fees

 

o        Add to balance

 

o        Decrease balance

 

 

EXAMPLES OF CUSTOM FEES

 

o        Principal only payment

 

o        Legal fees

 

o        Appraisal fees

 

o        Non cash payoff

 

o        Insurance fees

 

 

INSTRUCTIONS TO SET THE CUSTOM FEES

 

o        From the Main Screen

 

o        Click on System

 

o        Click on Parameter Options

 

o        Click on Custom Fees

 

o        To add a reason click Add

 

               Type in the reason and click OK

 

o        To Edit a reason click on that reason and click Edit

 

                Modify that reason and click OK

 

o        To Delete a reason click on that reason and click Delete

 

o        Click OK when done