Invoicing Servicer Administrator

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Managing Loan Type Codes

InvoicingSM uses the Loan Type Code field to determine whether a loan should be categorized as FHA, VA, commercial, HELOC, and/or conventional. When a loan type code is conventional and the portfolio is Fannie Mae or Freddie Mac, InvoicingSM uses additional fields to determine the conventional status of the loan. Specific class codes, investor IDs, and category IDs can be mapped as either Fannie Mae or Freddie Mac loans.

When a code is not mapped, InvoicingSM rejects the loan and the error appears in the DDC1 email and on the Import Process Report. The email contains the loan number, investor ID, category ID, investor name and reason for the rejection. After the servicer corrects the loan, it is processed in the next import file.

Any errors appear on the Loan Type Translation Error Report.

To see the results of the loan translation, remain proxied as the servicer and open the servicer home page. Once on the servicer home page, from the toolbar point to Loan Level and click Loan Expense\Information Report.

  1. From the toolbar, point to Client Maintenance, Loan Level Processing and click Translation Type.

    The Configure Loan Type Translation screen appears.

  2. If necessary, in the Region Code section, choose the region code to which the loan type translation data applies.
  3. In the Loan Type Code section, type the loan type codes necessary for each loan type.

    Tip Separate multiple values with commas with no spaces in between (Example: 100,123,126).

  4. In the Consumer Indicator section, type one or more consumer indicator type values.
  5. In the Conventional Loan Type Mapping Section, select a map type and type one or more values in the corresponding fields.

    4786_note If you select None, InvoicingSM ignores any typed entries in the mapping fields.

  6. Click Save.

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Confidential, Proprietary and/or Trade Secret
TM SM Registered Trademark(s) of Intercontinental Exchange, Inc. or a subsidiary or affiliate
Copyright 2024 Intercontinental Exchange, Inc. All Rights Reserved