Adding Bank Account Information - Borrowers and Vendors

Primary Department Supported: Servicing

Super Powers Needed? - NO

Developer Support Needed? - NO

Common Situations

• Borrower or Vendors commonly report that they are unable to add their own bank account information in the portal – This is most likely due to incorrect information within LMS or user error from the Portal User.
• Product Support no longer manually adds Borrower or Vendor bank account information without approval from Helen Yoon and only after troubleshooting and resolving all possible technical issues.

Important Considerations & Best Practices

• Encourage the borrower or vendor to add their own banking information through their portal; If errors occur or are being reported, request clear screenshots and a description of the issue
• Attempt to troubleshoot and resolve all errors and issues before going to Helen
• Approvals must be fully documented in the HubSpot ticket email thread

Instructions:

Review screenshots and error messages to determine whether:

1. The user is in the correct portal/ URL
2. There is a permission or role-related issue.
3. Review the contact level, entities tab level and User Account levels; Ensure all roles and contact information and permissions are assigned correctly
4. Submit any relevant tickets to the developers to ensure that back-end links and connections are correct (ie. Gurantors to borrower orgs/etc)
5. Obtain Required Approval
6. If manual entry is the only solution, obtain approval from Helen Yoon (Accounting/Controls).
7. Ensure approval is documented in the HubSpot ticket email thread before proceeding.

Instructions: (After Approval Is Granted)

To Add Borrower Bank Account Information

From LMS Menu:

1. Select Organizations → Bank Accounts
2. Search for the Borrower Organization to identify existing bank accounts.
3. Click Add.
4. Enter the borrower’s bank account information.
5. Select Save & Close.

To Add Vendor Bank Account Information

From LMS Menu:

1. Select Vendors → Bank Accounts
2. Search for the Vendor Organization to view any existing bank accounts.
3. Click Add.
4. Enter the vendor’s bank account information
   1. Note: Adding Wire instructions for a vendor is not typical and is only done under specific circumstances

       5. Select Save & Close.