NetLoan - Mass Payment Modifications

OVERVIEW

NetLoan has the ability to mass modify loans in a bulk batch process. This step is especially helpful for users with high volume payment modifications. 

STEP BY STEP PROCESS

1. Fill out a template for the information you want to update/import

If you want to update payment lines that already exist in the system, follow the steps in the article CSV Upload to Change Fields then come back to step 2 of this article. 

If you want to add new payment lines follow the steps below:

• Fill out the appropriate information on the NetLoan Modification Upload - Payment template
• Export file type and convert format to a .csv

NetLoan Modification Upload - Payment

Import into NetLoan by navigating to Setup > Import/Export > Import CSV Records 

• Import Type: Custom Record
• Record Type: NetLoan Payment

Hint: If you get an upload error, be sure to check empty cells for blank/invisible data! View full size

• Data Handling: Add View full size
• Map the corresponding fields from the template to the NetSuite fields, and click Next
  • Note: Make sure Loan ID Name (Concatenated) is mapped to the Loan (Req) field! (And the field line is updated to have a Reference Type of Internal ID) View full size
• If desired, save as a Saved Import by entering an Import Map Name and selecting Save and Run
  • Note: Saved Imports are viewed by navigating to Setup > Import/Export > Saved CSV Imports View full size
• Confirm that all the payment records have been imported successfully View full size

2. Upload NetLoan Modification Proposals

• Fill out the appropriate information on the NetLoan Modification Upload - Proposal template
  • The modification type should be "Adjust Loan Terms" if you are updating/adding a new loan payment
  • The modification type should be "Non-Loan Payment" if you are updating/adding a non-loan payment

NetLoan Modification Upload - Proposal

• Import into NetLoan by navigating to Setup > Import/Export > Import CSV Records 
  • Import Type: Custom Record
  • Record Type: NetLoan Modification Proposal View full size
  • Data Handling: Add View full size
  • Map the corresponding fields from the template to the NetSuite fields
    • Note: Concatenated Loan ID Name will need to be mapped to the Loan (Req) field and the mapping updated to have a Reference Type of Internal ID View full size
  • If desired, save as a Saved Import be entering an Import Map Name and selecting Save and Run
    • Note: Saved Imports are viewed by navigating to Setup > Import/Export > Saved CSV Imports
      View full size
• Confirm that all the proposal records have been imported successfully View full size

3. Process the mass modification

• Navigate to NetLoan > Mass Update Loans > Mass Modify Loans
  • Here you will see all the pending loan modifications
  • The effective date of the modification will be the first period after amortization entries have been run
  • Enter any desired filters and click Filter Results if you would only like a subset of loan modifications to be processed 
• Once you have reviewed the loans and you’re happy with the loans displaying in the sublist, click the Mark All button then click the Modify button. View full size

• Click Refresh until the process status shows Complete
• Once the process is complete you will see a list of Modified Loans

View full size

• Click on the loan hyperlink to be redirected to the loan record
• If you would like to reverse the renewal, simply click the Reverse Modification button, and confirm your intent to reverse by clicking Ok
• The reversal will reverse the loan record and amortization schedule back to before the update. The payment record will need to be manually deleted from the payment subtab.