Line Items

Line items are individual items that make up the total amounts owed to the vendor/broker for services rendered, and you add them to an invoice on the Invoice Editor. There is no limit to the number of line items you can add to an invoice. However, the system can keep track of duplicate line items already submitted on any invoice for the loan. Line item information includes the following:

• Category: The fee or cost category that drives the sub-category selection.
• Sub-Category: Sub-categories are driven by the category. When you enter the sub-category, InvoicingSM prompts you for additional information.
• Date: The date is a required field. You must enter a date for both fee and cost line items.
• Qty and Unit Price: Depending on the invoice type, the quantity and amount are recorded. If the servicer uses milestone billing, InvoicingSM calculates whether the vendor is attempting to exceed the allowable amount for the service. If so, the system automatically prompts the vendor for an explanation and marks the line item with an exception.

Line item dates cannot be later than the invoice date.