NetLoan - Modification Reversals

Use Case: A loan modification has been made erroneously and needs to be reversed.

Prerequisites: A modification has been done on the loan and amortization has not yet been recorded on the effective modification date period.

STEP BY STEP PROCESS

• Navigate to an NetLoan record where the modification is to be recorded, click the Reverse Modification button and confirm your intent to reverse the modification
  1. NOTE: This button will only appear when there has been a recent modification and amortization has not yet been recorded on the effective modification date period.

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• The loan page will be refreshed with a banner notifying you that the system is processing the modification reversal. Click the Refresh button periodically until the Refresh button disappears and the schedule has reverted back to its pre-modification state.
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• The NetLoan Modification will be marked as Reversed to and left on the loan’s Modification subtab to maintain the historical data

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