Statements and Custom Statements
Originally Aired: August 30, 2017
Kelli Downs goes over the Statements and Custom Statement features using the latest NLS version 5.0.2. She demonstrates how to setup both types of statements and show the output for each type.
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Hi everybody, hope you’re all having a good day. I wanted to quickly go over sort of the general area of statements. I’m sure this is going to be a review for most of you but the part you may not know is that you can technically make a custom statement. Let me start off by going to my self setup. Now if this format is foreign to you, just know that this is our most recent version of NLS. So, it has this ribbon bar view that you would not have in your version, 4.10.8 and lower so don’t be freaked out if it doesn’t look right to you.
I’m going to go up to this file tab and I’m going to click on setup because it is no longer here in the shortcut bar. So, I’m going to minimize this and go into the loan setup and look in the statements area. This is a test database I’ve created so you can see that I’ve already got some statements in here and all of them are active and I can see that here because they are all checked off to be stored statements in the comments underneath our loans. If I were to go set up one of these, you’ll notice that I have several that I can choose from so let me start off with explaining what each of these four statements do.
Loan statements 1 and 2 are really just your basic statements to say, “hey borrower, this is how much is due, and this is the date that it’s due.” That’s definitely our loan statement 1. Loan statement 2 is going to say exactly the same thing expect that it’s also going to give information about transactions that has happened in the last payment period. So let’s say for instance that a borrower had an advance or made a payment or some fees were accessed; then that information would show up in the transaction history on loan statement 2. Both of these statements will have remittance information at the bottom and that remittance information is going to come here. I would need to enter the address of the company, I would enter the remittance information, and as you can see I can also put in a logo. Here are sort of the standard settings for the logo if you do decide that you would like to use one. We can click on here to download one.
Let me go back and talk about loan statements 3 and 4. These will be for more of your credit card, revolving lines of credit and non-revolving lines of credit types of loans. The great thing about these is that these are going to be statements you could theatrically choose this option right here; this generate card act data. So this is going to give you the option to explain to your borrower that scenario if they make the minimum payment of $20 then it will take 85 years to pay off; something along those lines but it is essentially a disclosure of information that is required to be put. So if you are using loan statements 3 and 4 that are more credit card like, then you can certainty add this feature to those. Mortgage statement, I’m not really going to go into that very much. Of course, those of you whoa re using our module would definitely want to use this but for most of everyone else, you won’t be using this.
These two options here are different tests that I’ve run in this system. These are custom statements that I’m actually going to create another one. Once I do that, we will see it in here. We can talk here about the difference between the statements and how you can set them up. We can set them up to be based on billing. If you have a due date of the 1st, then on the loan itself or on the loan template, we can set it up so that we can tell the system on a certain number of days prior to the due date on a bill that the statement will generate. On a periodic statement, we can tell the system that we want this to run every so often based on these increments. I have a lot of clients that will send out annual privacy notices, so they might want to set up a periodic statement to go out annually for that. For most situations, these are going to be billing statements.
Also to get back down to this area, we could tell the system whether we want it to generate after maturity or on zero billing and zero balances but for this one that I have selected thus far I just have these two options created. As you see up here I got two more codes. I’m not going to go great detail about them other than to say the late notice, there’s only one that you need to set up theoretically unless you have separate ones that you need to go out by separate states; and there’s only one you can choose from. A consolidated statement is truly only going to be those of you who might be using commitment loans and all of those underlining loans would have the same due date. Therefore, you can send out a consolidated statement for all those loans instead of one statement for every single loan in that group.
So I wanted you to see this because every statement that goes out has to be set up in this area. What does that mean? If I’m going to set up a custom statement, then I need to go ahead and load it, in the system, and get it here in order to run it through our statement generation process. Let’s talk about how we do that. I’m going to go here into report manager. Before we do that, let me show you a very rough estimate of the one I’ve already created. As you can see, super simple, nothing important but what I’ve inserted using our merge fields is that I’ve just told it that in different tags in the system, I want it to pull this data. All of this information that I have generated these fields by comes from our website. Let’s go ahead and move this over and I can show you what this looks like. This particular page is from our user guide and so I want to make sure that I also specify that when we set up a merge document, we have to kind of stick with each of the categories. I think I have mentioned this in a prior session that we had but if I’m going to setup a contact document. I can only use the fields that are in this section. Same with the loans. There’s a lot more then there are in the loans but I can only use what’s in here; I could not mix and match what’s in here and here. For that reason, I’m going to take you down to the statements area and you can see these are the list of fields that are available to you to use. There’s not a whole lot but imagine there’s probably not much you want to put on a statement otherwise you’re going to lose your borrowers in the first two sentences. I wanted to make sure that you have the access and know where to find these fields if you decide to want to build a custom statement. That’s exactly what I did here. I’ve just created these fields. I go in here, I click on my edit field, and I told it to merge to this mail and address.
Now that I’ve already gone in and created this document, I’m going to upload it into the system. Here’s what I need to do: I am in report manager. If you have not seen this, this is going to list all of our reports available in the system alphabetically. So, again, in a prior session, I did mention that if you need to find a report and you have no idea where it’s located but you know the name of it is, then you can find it by the name and it’s going to tell you how and where to find it. For the same purpose, we’re going to use and we’re going to add a report and I need to tell it what type and category. Because I’m putting this as a statement and because I’m using those statements fields from the website, I need to set it up as a statement and put it in as a loan statement. I will call it webinar statement. Then I’m going to up load it. I think I saved it on my desktop here. Let’s go grab it.
Here’s another trick I want to tell you. Unfortunately, I have no idea why the system does this. I know that it’s on my desktop but if you notice, it’s automatically looking for DLL files. My statement isn’t in a DLL file so I need to always hit this dropdown. If you can’t find, make sure you hit that dropdown and get it to word documents. Let’s open this. I’m going to click ok; and ok again. Like clockwork, anytime I make changes to the database and click ok, afterwards from the setup, I’m going to be asked to restart the system.
We’ve uploaded the document and that’s it. So now we need to go back into the setup and tell it we have a statement we want to setup. So, I’m going to go back into statements and I’m going to add a statement and call it the same thing. Now, you’ll notice that it is now a statement that is available in the dropdown menu. When I upload it into the reports manager and I gave it the type of statement; that’s what allows me to be able to see it here as an available statement to run.
One more time, I’m going to go ahead and click ok and restart. Now we’re going to go run it on a loan and see what it looks like. Here’s my loans. I think I have a single loan in here. Let’s get a query. Yup, Mary Poppins is my victim for the day. So I’ve got a loan for her. It is accrued through current because it is end of day accruals and let’s go ahead and run this. So because I want to run it now, I’m going to go ahead and go up to loan and I’m going to click on queue on demand statement. Again, you can see as listed here in my statements to use. Click ok. Now I have to generate it from the statements area. This is probably going to look very familiar to you if you are the person in your company that generate statements except that now it is listed here all the way at the bottom of my new statement and we can that one is unprinted. I’m going to select this one that is unprinted and I’m going to process it without printing because I have no reason to waste paper and would prefer to see it electronically though this is will automatically send it to the comments of the loan that I’m working with. Now I’m going to go back to that loan. Let’s take a look at the comments. Here is my statement. It’s in my statements category because I purposely set it up that way and let’s take a look. There we go. It’s got all my information in here. Apparently, I don’t have a memo payment that’s listed in here but it’s going to pull through all the information in the system.