Record loan payments and additional principal
Allocate a lender payment to principal, interest, escrow and additional principal.
On this page
Check the lender statement and whether the withdrawal is already imported or booked.
Choose the payment
Open the loan payment action or review its matching withdrawal in Import feed. Select the loan and check whether the source is manual or imported.
Enter the breakdown
Enter Payment date, Total payment, Principal, Interest, Lender escrow and Additional principal. The four parts must equal the total.
Confirm the statement balance
Enter Statement principal balance before payment, Balance as of and the statement reference or note. Save amounts as suggestions only when useful for your next review.
Review and record
Choose Review payment, compare the components and resulting balance, then Record loan payment. Read the result before retrying.
Correct the whole record
In Loan payment activity use the offered reversal action, enter its reason and typed confirmation, then inspect the restored prior balance. Review a corrected payment separately.
Check the result
- Loan activity shows the components and resulting dated principal balance.
FAQs
Why did the suggested amount change?
Escrow adjustments or additional principal can change the withdrawal. Check the statement and payment account before editing the next suggestion.
Can I change the monthly payment for future use?
Edit the loan details and review each actual statement. Updating a suggestion does not change earlier posted payments.