How do I show that a borrower owes money for fees paid by the investors?
There are two ways to show that the borrower owes money. 1. If you anticipate the borrower paying the fee with their next regular payment: a. Click on Loan+Care/Receipts/Log Payments or click on the icon/button. b. Select the Borrower’s account. c. Edit the last payment on the screen by clicking on the triangle. d. Click in the Past Due/Unapplied field and click on the dropdown arrow. f. Click on BOR code. g. Enter amount of fee as a positive amount in the next field and also in the Past Due Balance field. h. Press the Tab key to post the payment. i. Click Post Payment button, the Edit Unapplied Entries dialog screen appears with a blank entry on the grid. j. Enter the Date, Amount, Code (BOR), Charge Int (change to TRUE if you are charging interest) and brief Description, the other fields fill in automatically. k. Click on the check mark to post the entry. Mortcare will include the amount in the Past Due balance field to the payment amount and will keep including it until it is paid.
