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Update Original Committed Loan Amount

How and when and where to update the Original Committed Loan Amount in LMS; Includes when and how to submit a request to the developers as needed

Primary Departments Supported: Servicing/Closing/Treasury 

 Super Powers Needed? YES 

Developer Support Needed? NO/ (YES for paid off loans) 

Important Considerations & Best Practices 

  • Ensure the requester provides the exact Original Loan Balance amount that should be restored or updated – This can also be cross referenced by reviewing the change log for "Original Loan Amount"
  • Review the Loan Phase:  
    • If loan is Paid Off , submit a ticket to the developers to update: Product Support cannot update the value directly
  • When done by Product Support – the update is completed at the Terms Tab level  
  • When done by the Developers – the update is completed on the Servicing Tab  

Instructions: 

To Update Original Balance on the Terms Tab

 

From LMS Menu: 

  1. Select Loans  
  2. Loan Details 
  3. Locate Loan and click to open details 
  4. Select Terms Tab 
  5. Turn on Super Powers. 
  6. Click Edit. 
  7. Enter the requested updated amount into the Original Loan Balance field. 
  8. Click Save or Save and Close. 

 

 

To Update Original Balance on a Paid off Loan

Submit a Task to the Developers:  

Asana Task Guidelines:

  1. Task Name (should match the name of the HubSpot Ticket): An easy way to name the ticket for understanding and identification (include loan number or numbers when applicable and a few words to identify the ticket)

  2. Developer Description: Where/What: Specific instructions ask the developer for exactly what is needed and should always include screenshots of exactly what items you are referring to

  3. REPRO: Reproducing Steps and links: Step by step instructions with URL links and screenshots for the developers to get to the section in LMS where the changes are to be completed

Developer Task Template:

Task Name: [Loan #] – Update Original Committed Loan Amount

Developer Description: 

On the Servicing Tab - Please update the Original Committed Loan amount to be: ($xxx,xxx). 

(Provide: Screenshot of the Servicing Tab in LMS, highlighting the Original Committed Loan Amount to be updated) 

REPRO: 

Pathway to Servicing Tab: (URL/Link to Budget Tab for the loan)

  1. Loans 
  2. Loan Details 
  3. Servicing Tab
  4. Update amount per description

(Provide: Screenshot of the steps to reach the Servicing Tab in LMS, highlighting the Original Committed Loan Amount to be updated)