Update Current Interest Reserve Balance – Servicing Tab

Primary Department Supported: Accounting/ Treasury

Description: How and when to update the Current Interest Reserve field on the Servicing Tab in LMS

Super Powers Needed? - YES

Developer Support Needed? - NO

Context and Common Situations

• A ticket requester specifically asks for the Current Interest Reserve Balance to be updated
  
  
• Developers have manually posted interest reserve payments at Product Support’s request. 
  • Requests to post an interest reserve payment
  • True-Ups are added to correct to interest accrued on a loan: Loans that utilize IR will sometime require funds to be added or removed from interest rest 

Important Considerations & Best Practices 

Instructions:

To update the Current Interest Reserve Balance: 

From the LMS menu, go to: 

1. Select Loans  

2. Select Details 

3. Locate and open Loan Details  

4. Select Servicing Tab

5. Enable Super Powers

6. Select Edit

7. Update the Current Interest Reserve Balance field with the correct amount

8. Save and Close

Troubleshooting 

• No 'save and close' button
  • Verify that you've first selected 'edit' at the top of the Servicing tab
• Changes don't save:  

• • Verify that Super Powers are turned on. 

Video Walkthrough: