This function is used to reverse (unapply) a previously-applied borrower payment. The reversal process has an option to assess NSF fees at the time the reversal is applied. This function will make all appropriate Chronological History and Ledger entries as part of the payment reversal process.
This function is accessed by selecting the Payment Reversal/NSF function from the drop-down box that appears in the Navigation Bar. When the function is selected, the Office Management screen is updated as follows:
A Borrower Selection screen is displayed, as shown in the example below. This selection screen works the same as its counterpart in the Borrower Services area.
To access the Payment Reversal/NSF function, the user must first select a specific borrower to work with. To do this, the user enters selection criteria that will either (a) identify a specific (single) borrower, or (b) multiple borrowers that meet the specified selection criteria.
The user can search for a borrower or borrowers using one of the following methods. Click on the appropriate link to learn more about that method:
After the user enters the desired selection criteria and clicks the Find button, one of two possible outcomes will result. The CLM system can potentially find no matching borrowers, or one or more borrowers that match the supplied search criteria.
If no matching borrowers were found, the CLM system will display the following message in the Contents area of the screen:
To respecify, simply enter data into the appropriate search field and click the Find button. The new search result set will then be displayed.
If the system finds one or more borrowers matching the selection criteria, a borrower selection list will be displayed. This list will be comprised of a separate display line for each of the matching borrowers, up to a maximum of 100 lines. Please note: the Borrower selection list will include borrowers that have been deleted (archive flag is "Y"), but not yet archived.
To select a borrower, simply click on the borrower Name link, located on the left-most side of the data line. When the link is clicked, the Payment Reversal Selection list screen is displayed. This screen lists all payments that are associated with the selected borrower (see example below). Payments that have already been reversed (if any) are indicated by the light-blue background and the absence of a Reverse button. Payments that can be reversed are indicated by a Reverse button.
In order to charge and NSF fee to the borrower, the Charge NSF dropdown list in the top right of the window must be set to "Yes" prior to selecting the payment for reversal.
If no payment records currently exist for the selected borrower, the following is displayed:
To apply a payment reversal, select the desired payment to be reversed by clicking the Reverse button. The following pop-up window will display:
Click the OK button to perform the reversal or the Cancel button to return to the Payment Reversal window.