On occasion, a customer will obtain their own financing. In this situation, purchase contracts for the lending institution do not need to be completed. Do not enter any of the lender information into the Bank Maintenance window . This window is only for finance sources that require contracts and loan paperwork.
Sometimes the customer's lending institution needs to be listed as a lienholder on the deal. In this situation, enter the lender's information in the Outside Lienholder section of the deal processing screen. Access the Outside Lienholder Maintenance window by clicking on the Maintenance menu and select Outside Lienholders from the pull-down menu.
Outside Lienholder Maintenance
When a new outside lienholder is entered in a deal, the lienholder's information will be saved in Outside Lienholder Maintenance. In this window, a new lienholder can be entered, or an existing lienholder can be edited.
Outside Lienholder Maintenance
Deleting a Lienholder
To delete a lienholder, click on the lienholder's listing, click the 'Delete Lienholder' button, then Save/Exit.
Adding a Lienholder
There are two ways to add a lienholder. The first method is to add the lienholder directly into this window. The second method occurs when a new lienholder's information is entered into a deal. The system checks to see if the entered lienholder is already in the Outside Lienholder Maintenance screen. If not, the system will ask if you want to add them to the list.
To add a lienholder directly to the Outside Lienholder Maintenance window, click the Add Lienholder button. This will create a new row in the window's listing. Type in the lienholder's information, then click the Save/Exit button. When processing subsequent deals, this lienholder will appear in a drop-down list.
Editing a Lienholder
To edit a lienholder, click on the field or section of the listing and type in the changes. When finished, click the Save/Exit button.