NetLoan - Update Loan Schedules
Use Case: Circumstances arise when a user wants to update loan schedules in mass for newly added NetLoan Payment or Rate records that need to be included in the amortization schedule. This would be most commonly necessary when uploading NetLoan Payment or Rate records via CSV import or when using variable rate indexes within NetLoan.
Prerequisites: Any payment or rate data must have already been added to the leases through CSV upload or via a variable rate index application. For information on how to add that data, see the the Loan Rate Data Upload, Loan Payment Data Upload, and Manage Rate Index Types articles.
STEP BY STEP PROCESS:
- Navigate to the Update Amortization Schedules page by selecting NetLoan > Mass Update Loans > Update Loan Schedules.
- NetLoan will pull in any loans that have outstanding payment or rate updates to be applied to amortization schedules. Select any loans for which schedules will be updated and then select Generate.
- NetLoan will now update the amortization schedules for any loans selected. Select Refresh periodically until the status displays as "Complete."
- Once the status displays as "Complete," select the loan hyperlink to be directed to the loan record of a given loan.
- Scroll to the Amortization Schedule section of the loan record. Any updates that were pending before the update loan schedules feature was run will now be reflected in the loan amortization schedule. For example, in the screenshot below, the lease schedule was update to reflect a one-time lease payment to reduce the principal of the loan that occurred on 2/3/2023 as well as to reflect a rate increase to 6% effective 3/7/2023.