Exclude Loan from Late Payment Emails and Late Fees

Primary Department Supported: SAG (Special Assets Group)

Super Powers Needed? – NO

Developer Support Needed? - NO

Context and Common Situations

A request is submitted asking that a borrower stop receiving late payment email notifications and/or that the loan stop accruing late fees.

These updates are made when a borrower enters a special handling or workout scenario and should no longer be treated by standard LMS automated processes.

Important Considerations & Best Practices

• SAG may request one or both of the following to be enabled on a loan:
  • Exclude from Late Fees – prevents LMS from assessing late fees to the loan.
  • Exclude from Late Payment Emails – prevents LMS from sending late payment reminder emails to the borrower.
• Both settings are located on the Servicing Tab in LMS.
• Ensure the request explicitly states whether SAG wants one or both exclusions enabled.

Instructions

To Update Late Fee and Late Fee emails

From LMS Menu

1. Select Loans → Loan Details → Servicing
2. Click Edit.
3. Locate the following options:
4. Exclude from Late Fees
5. Exclude from Late Payment Emails
6. Check the box(es) requested by SAG.
7. Click Save and Close.