Repayment servicing

A loan account gives the servicing team one place to connect scheduled obligations and received repayments to the borrower. A repayment schedule row has a due date, principal due, interest due and provider snapshot ID. The snapshot identity tells the team which provider schedule the numbers came from. A repayment has its own provider event ID, received date, received amount, state and account link. It may also link back to the matched loan application. These references make a servicing question answerable from records rather than memory.

Matching requires attention to both amount and date. The workflow describes an exact amount and exact confirmed receipt-date comparison for an application linked to the same account. A payment with the right amount but a receipt date different from the provider’s confirmed date is still a discrepancy. A payment with the confirmed date but a different amount is also a discrepancy. Leave it unmatched or mark it as an exception while the Credit Officer investigates. The received event should not be rewritten to make it fit the confirmed source event.

• Dated obligations. Schedule rows keep principal and interest due against the provider’s snapshot.
• Received events. Each repayment retains a source event ID, date, amount and account.
• Exception review. The team examines unmatched and exception items before considering them settled.

Agree which provider snapshot is authoritative for a schedule and how new snapshots are recorded. Set the rule for interpreting the provider’s receipt date in the organization’s time zone. Decide who investigates a payment with an unfamiliar event ID or account. The servicing team needs a process for comparing the received amount and date with the provider’s confirmed event without changing the source information. Confirm how credits and debits in disbursement records relate to the principal the team expects to service.

For a pilot, load a schedule for one account and two repayment events. Make one event match the intended amount and confirmed receipt date, then make the other differ by date. The second event should remain visible in the exception review. Repeat with the same amount and date but a different account; the application link must still be checked. Ask the Auditor to explain the resulting state from the stored provider event ID, schedule and application relationship.

A borrower has a schedule due on a recorded date. A repayment arrives for the account and expected amount, but its received date differs from the provider’s confirmed receipt date for the linked application. The Credit Officer checks the account and source event alongside the schedule snapshot. The payment stays unmatched while the officer investigates the date difference. If a corrected event arrives, preserve the source identity and the earlier discrepancy. If the amount also differs, use the exception state and keep the differing source event visible rather than forcing a match.

The due schedule view gives the team a dated worklist. The unmatched view gives it a separate queue for source events needing attention. Both should lead to the same loan account and borrower, so the Credit Officer can answer which obligation and provider event are under discussion. The Operations Overview can rank recorded exceptions for the day’s attention.

• Due repayment schedule — Dated account obligations with principal and interest due.
• Unmatched repayments — Source events still awaiting a supported match.

See repayment servicing for the matching path and servicing review when an adjustment needs a decision.