NetLoan — Add a Fee via Loan Modification
Overview
This article shows how to add a fee to a loan using the Adjust Loan Terms modification. Use this process when a fee needs to be applied post-origination — for example, a late fee, administrative charge, or other one-time cost. Once the modification is processed, the fee is added to the loan and reflected on the fee amortization schedule.
Prerequisites
- Standard NetLoan access with permission to create loan modifications.
- The loan must exist and be in an active status (not a Pending status).
- The fee payment type must already be configured in NetLoan before it can be selected during the modification process.
Step-by-Step
Note: To add a fee via a Modification Proposal record, see NetLoan — Loan Term Adjustments.
1. Open the loan record and click Modify.
2. Set the Modification Type to Adjust Loan Terms and click Continue to proceed to the modification record.
3. Go to the Payments tab.
4. Go to the next available payment line.
5. Select the desired fee in the dropdown field under the Payment Type column.
6. Set the Effective Date for the fee.
7. Enter the fee's Payment Amount.
8. Update the Payment Frequency.
9. Click Add to add the fee.
10. Click Modify Loan to apply the change.
Once processed, the fee will appear on the loan's Fee Amortization Schedule.
Record Structure
Payments Tab — Fee Line
| Field Name | Field Type | Description | Example |
|---|---|---|---|
| Payment Type | List/Record | The fee to be applied to the loan. Options are determined by your NetLoan payment type configuration. | Late Fee |
| Amount | Currency | The dollar amount of the fee. | 100.00 |
| Date | Date | The date the fee is applied on the loan schedule. | 07/15/2026 |
| Payment Frequency | List/Record | Whether the fee is one-time or recurring. Can default from the Payment Type record or be set here. | One-Time |
Considerations
- The fee payment type must be set up in NetLoan before it can be selected during the modification. If the desired fee does not appear in the Payment Type dropdown, contact your administrator to configure it.
- Fees added via modification can be one-time or recurring. The frequency can be set on the Payment Type record using the Default Payment Frequency field, or configured during the modification process under the Payment Frequency column.
- If a fee was added in error, the modification can be reversed by clicking the Reverse Modification button on the modification record, or by using the Rewind feature with Do Not Reverse Modifications unchecked.
