Correct/Update the Current Maturity Date

Primary Department(s) Supported: Servicing/ Closing

Super Powers Needed? - YES

Developers Support Needed? - NO

Context Common Situations

• Servicing may request an update to the Current Maturity Date when it does not match the expected value:
• These discrepancies often appear after loan moves to Servicing Active or after Built-In extension amendments have been Implemented.

Important Considerations & Best Practices

• Original Maturity Date Requirements: Review the loan documents (if not provided) before making any adjustments. This would be located on the Promissory Note for the loan
  - The Original Maturity Date must always match the date shown on the executed Loan Documents.
  
  
• Extension Amendments: Review the Servicing Tab and select "View Amendments" Table
  - If the maturity date was extended, there should be an amendment record in the Implemented Status. The updated/expected Maturity Date will be listed on and in this amendment.
  
  
• Revolver Mini Loan Allocations: Review and validate dates on Master Loans
  - Any Mini Loans (12345V01 or 12345D01 etc.) should always reflect the same Maturity Date as the Master Facility (12345M)

Instructions

To Update the Current Maturity Date

From the LMS Menu:

1. Select Loans → Loan Details → Servicing Tab
2. Turn on Super Powers.
3. Select Edit.
4. Locate the Current Maturity Date field and enter the correct date.
5. Click Save & Close