making mortgage payments in cu*base and it's me 247
DESCRIPTION
A preview of enhancements to CU*BASE Mortgage Loans with the 360-Day Interest Calculation Type, coming in the CU*BASE 9.0 Release.TRANSCRIPT
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Making Payments on Mortgage Loans in CU*BASE Teller Processing
A Preview of Coming Enhancements to CU*BASE Mortgage Loans
with the 360-Day Interest Calculation Type
Revised March 19, 2009
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Scenario 1
Making a payment that is more than the regular payment amount
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Making a payment that is more than the regular payment amount
Payment amount being
applied
Payment amount being
appliedRegular payment amount (loan is not delinquent)
Regular payment amount (loan is not delinquent)
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Making a payment that is more than the regular payment amount
Member has two choices for
applying the payment
Member has two choices for
applying the payment (This window will
not appear at all if making the exact regular payment
amount)
(This window will not appear at all if making the exact regular payment
amount)
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Making a payment that is more than the regular payment amount
Transaction history showing
the payment made
Transaction history showing
the payment made
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Making a payment that is more than the regular payment amount
Secondary transaction description that will
appear on the member’s statement
Secondary transaction description that will
appear on the member’s statement
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Making a payment that is more than the regular payment amount
The second transaction shows the extra principal
payment
The second transaction shows the extra principal
payment
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Making a payment that is more than the regular payment amount
The second transaction shows the extra principal
payment
The second transaction shows the extra principal
payment
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Making a payment that is more than the regular payment amount
The receipt shows the two
transactions being posted
The receipt shows the two
transactions being posted
In effect, the receipt would be the same as a member
payment coupon where the principal-only payment was
broken out separately
In effect, the receipt would be the same as a member
payment coupon where the principal-only payment was
broken out separately
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Scenario 2
Making a mortgage payment before the Interest Calc Date (such as the 20th)
(Account also has an attached escrow)
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Making a mortgage payment before the Interest Calc Date
Payment amount being
applied
Payment amount being
appliedRegular payment amount –
payment for March has already
been made
Regular payment amount –
payment for March has already
been made
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Making a mortgage payment before the Interest Calc Date
Same choices as before, since the member is allowed to pay ahead on this
loan
Same choices as before, since the member is allowed to pay ahead on this
loan
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Making a mortgage payment before the Interest Calc Date
Another way to see the
transaction information is to use this Toggle
button
Another way to see the
transaction information is to use this Toggle
button
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Making a mortgage payment before the Interest Calc Date
After togglingAfter toggling
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Making a mortgage payment before the Interest Calc Date
Full secondary transaction description that will appear on the member’s statement
Full secondary transaction description that will appear on the member’s statement
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Scenario 3
Making a principal-only payment
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Making a principal-only payment
Payment being made is less than the regular scheduled payment amount (including
escrow, if applicable)
Payment being made is less than the regular scheduled payment amount (including
escrow, if applicable)
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Making a principal-only payment
Window confirms that a principal-only
payment will be applied
Window confirms that a principal-only
payment will be applied
(No choices other than this because the amount is less than the regular payment
amount.)
(No choices other than this because the amount is less than the regular payment
amount.)
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Making a principal-only payment
Member’s statement will show the principal-
only payment
Member’s statement will show the principal-
only payment
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Scenario 4
Making a payment on a delinquent loan
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Making a payment on a delinquent loan
This button will display a window with delinquency
details
This button will display a window with delinquency
detailsAll delinquent loans
are highlighted on the teller posting screen
All delinquent loans are highlighted on the teller posting screen
Screen shows the amount needed to
bring the loan current
Screen shows the amount needed to
bring the loan current
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Making a payment on a delinquent loan
Delinquency information on
this loan account
Delinquency information on
this loan account
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Making a payment on a delinquent loan
Teller tries to make both the member’s
delinquent and current payments at the same
time
Teller tries to make both the member’s
delinquent and current payments at the same
time
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Making a payment on a delinquent loan
The teller can back up and change the amount
being applied
The teller can back up and change the amount
being applied
CU*BASE warns that only one payment can be made at a time, or the remaining amount will be applied to
principal
CU*BASE warns that only one payment can be made at a time, or the remaining amount will be applied to
principal
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Making a payment on a delinquent loan
Teller changes the amount of the payment being applied
Teller changes the amount of the payment being applied
(Notice the cash back amount)
(Notice the cash back amount)
Teller uses F11 to bring the cash-back balance forward and immediately return to this same
member for the next transaction
Teller uses F11 to bring the cash-back balance forward and immediately return to this same
member for the next transaction
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Making a payment on a delinquent loanThis screen is immediately displayed with the balance forwarded, and the same
member account
This screen is immediately displayed with the balance forwarded, and the same
member account
Teller can now enter the 2nd payment
amount and post as usual
Teller can now enter the 2nd payment
amount and post as usual
(Notice the amount from the previous transaction)
(Notice the amount from the previous transaction)
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Scenario 5
When a loan cannot be paid ahead
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When a loan cannot be paid ahead
Exact regular payment amount is being posted, but since the loan can’t be paid
any further ahead, the entire amount will go
toward principal
Exact regular payment amount is being posted, but since the loan can’t be paid
any further ahead, the entire amount will go
toward principal
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Making Payments on Mortgage Loans in It’s Me 247It’s Me 247 Online Banking
A Preview of Coming Enhancements to CU*BASE Mortgage Loans
with the 360-Day Interest Calculation Type
Prepared March 9, 2009
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Scenario 1
Making a payment that is more than the regular payment amount
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Making a payment that is more than the regular payment amount
Member can see information about the loan by clicking on the account name (or they can just click the Transfer Money button as usual)
Member can see information about the loan by clicking on the account name (or they can just click the Transfer Money button as usual)
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Making a payment that is more than the regular payment amount
Notice the regular payment
amount
Notice the regular payment
amount
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Making a payment that is more than the regular payment amount
The regular payment
amount is filled in
automatically...
The regular payment
amount is filled in
automatically...
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Making a payment that is more than the regular payment amount
...but it can be changed to a
different amount
...but it can be changed to a
different amount
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Making a payment that is more than the regular payment amount
Just like in CU*BASE, It’s Me 247It’s Me 247 online
banking will explain to the member exactly
what will be done with the payment amount,
giving the member two choices
Just like in CU*BASE, It’s Me 247It’s Me 247 online
banking will explain to the member exactly
what will be done with the payment amount,
giving the member two choices
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Making a payment that is more than the regular payment amount
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Making a payment that is more than the regular payment amount
The transfers are shown immediately in the account details for
the mortgage loan account, including the extra that was applied
to principal
The transfers are shown immediately in the account details for
the mortgage loan account, including the extra that was applied
to principal
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Scenario 2
Making a regular payment when a loan cannot be paid ahead
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Making a regular payment when a loan cannot be paid ahead
This time our member is making a regular
payment amount, but the loan has already been paid forward as
far as allowed
This time our member is making a regular
payment amount, but the loan has already been paid forward as
far as allowed
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Making a regular payment when a loan cannot be paid ahead
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Making a regular payment when a loan cannot be paid ahead
The regular payment
amount is still filled in
automatically
The regular payment
amount is still filled in
automatically
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Making a regular payment when a loan cannot be paid ahead
The choices are different this time; since the loan can’t be paid ahead, the
entire amount will be applied to principal, but the member could also cancel the transfer now
and wait until next month
The choices are different this time; since the loan can’t be paid ahead, the
entire amount will be applied to principal, but the member could also cancel the transfer now
and wait until next month
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Making a regular payment when a loan cannot be paid ahead
This link will help the member with questions
about making mortgage payments
online
This link will help the member with questions
about making mortgage payments
online
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Making a regular payment when a loan cannot be paid ahead
After clicking the “Other Tips”
link
After clicking the “Other Tips”
link
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Making a regular payment when a loan cannot be paid ahead
Here are all of the available
FAQs
Here are all of the available
FAQs
The answer to this one will change depending on whether or not this
loan account can be paid ahead
The answer to this one will change depending on whether or not this
loan account can be paid ahead
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Configuring for multiple participation partners by category
Configurable day to calculate monthly interest amount to
match PLP day of the month
Configurable day to calculate monthly interest amount to
match PLP day of the month
Can allow pay-ahead up to 9 periods to
match PLP rule interpretation
Can allow pay-ahead up to 9 periods to
match PLP rule interpretation