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Add Bank Names to LMS and Add Routing Numbers and Transfer Types to Bank Names

Primary Department Supported: Servicing

Description: Review, add, and update LMS bank names, routing numbers, and transfer types (ACH/Wire)

Super Powers Needed? - NO

Developer Support Needed? - NO

Context and Common Situations
  • A borrower or vendor may try to add bank information in their portal, but required bank selections are missing. Missing Bank Names, routing numbers or transfer types must be added in LMS so borrowers/vendors can select them in the portal

Common issues include:

  • Bank Name not appearing in the dropdown
  • Bank Name appears, but the correct routing numbers or transfer types (ACH/Wire) are missing
  • This process is not the same as adding borrower or vendor bank account details—this specifically updates the system-wide bank directory
Important Considerations & Best Practices
  • Always validate the existing information in LMS before adding new records
  • Validate routing numbers using the ABA Lookup before linking them to a Bank Name
Instructions:

To add Bank Names and Link Routing Numbers and Transfer Types:

Review the Existing Bank Name Routing Numbers and Transfer Types LMS

From LMS Menu Select:

  1. Accounting → Bank Routing Numbers
  2. Search for the Bank Name
  3. Review existing routing numbers and transfer types.
  4. If the bank name does not exist, proceed to Add Bank Organization to LMS.
  5. If the bank exists but lacks the required routing number or transfer type, proceed to Add Routing Numbers / Transfer Types.
To Add Bank Name Organization to LMS:

From LMS Menu:

  1. Select Organizations → Organizations
  2. Click Add.
  3. Complete the required fields:
    1. Organization Type: Bank
    2. Type: Corporation
    3. Transfer Method: ACH or Wire
    4. Routing Number
  4. Click Save and Close.
To Add Bank Routing Numbers / Transfer Types to a Bank Name:

From LMS Menu:

  1. Select Accounting → Bank Routing Numbers
  2. Click Add.
  3. Select the Bank Name from the dropdown.
  4. Select the Transfer Type (ACH or Wire).
  5. Enter the routing number.
  6. Click Save and Close.
Validation and Troubleshooting

To Validate Accuracy of Bank Information being requested:

Perform a Routing Number Lookup using the ABA tool:
  1. Visit the routing lookup site. : https://routingnumber.aba.com/default1.aspx
  2. Select “I Agree” → Continue.
  3. Enter the Routing Number.
  4. Complete the I am not a Robot validation.
  5. Click Search to confirm Bank Name + Routing accuracy